UIIC Ann RPT 1011

OUR
VISION
l the most preferred insurer in India, with
global footprint & recognition

l a trusted brand admired by all stakeholders
We ,
The Company,
will be
l the best-in-class customer service provider
leveraging technology & multiple

channels
l the provider of a broad range of innovative
products to meet the needs of all customer

segments
l a great place to work with highly
motivated and empowered employees

l recognised for its contribution to the
society
/ ANNUAL REPORT 2010 - 2011
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Report of the Board of Directors
6
7
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Auditors Report
50
51
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Review of Accounts by the Comptroller & Auditor General of India
54
55
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Fire Insurance Revenue Account
58
58
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Marine Insurance Revenue Account
60
60
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Miscellaneous Insurance Revenue Account
62
62
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Profit and Loss Account
64
64
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Balance Sheet
66
66
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Schedules (No. 1 to 15)
68
68
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Segmental Report
78
78
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Cash Flow Statement
84
84
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Significant Accounting Policies
86
87
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Notes Forming Part of the Accounts
96
97
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Summary of Financial Statements
122
123
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Management Report
124
125
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Statement of Interest in the Subsidiary Company
142
143
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Annual Report and Accounts of the Subsidiary Company
145
145
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Zenith Accounts - Balance Sheet Abstract
175
175
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Board of Directors & Executives
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Shri G.SRINIVASAN
Chairman-cum-Managing Director
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Shri TARUN BAJAJ

Director
Shri T.M. BHASIN

Director
Shri MILIND A KHARAT

Director & General Manager
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Shri V. HARSHAVARDHAN
Director & General Manager
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Shri P.C. JAMES

General Manager
Shri P. J. JOSEPH
General Manager
Smt. ASHA NAIR

General Manager
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Shri B. KRISHNAMURTHY
Shri B.M. THAKKAR
General Manager
General Manager & Financial Advisor
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Shri RAJASEKARAN
Chief Vigilance Officer
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BOARD OF DIRECTORS
G. Srinivasan
DIRECTORS
Tarun Bajaj
T M Bhasin (from 26.04.2010)
Milind A Kharat
V Harshavardhan
A V Ratnam (upto 26.8.2010)
Abhijit Bandyopadhyay (upto 26.8.2010)
EXECUTIVES
G.SRINIVASAN
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GENERAL MANAGERS
Milind A. Kharat
V.Harshavardhan
P C James
S K Ghosh (upto 30.9.2010)
P J Joseph
Asha Nair (from 18.10.2010)
K.Sanath Kumar (upto 22.10.2010)
B Krishnamurthy (from 28.7.2010)
B M Thakkar (from 26.7.2010)
FINANCIAL ADVISOR
B M Thakkar (from 1.10.2010)
S K Ghosh (upto 30.9.2010)
CHIEF VIGILANCE OFFICER
Rajasekharan (from 24.1.2011)
S.P.Sinha (upto 2.12.2010)
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AUDITORS
M/s. Anand & Ponnappan
M/s.Manohar Chowdhry & Associates
M/s.Kalyanasundaram & Co.
DEPUTY GENERAL MANAGERS

D Padmanabha Reddy
M Elango
R S Singhal
S.Ramabhadran
M.L.Saha
M.V.V.Chalam
P.Nayak
A K Gupta
Ramma Bhasin
A Hoda
S K Munjal
V Easwara Kaimal
Alamelu T Lakshmanachari
S P Nanda
Ram Niwas
R Shivakumar
P Hema Malini
V Sajan
A Balasubramanian
M Sashikala
COMPANY SECRETARY
S. Venkataraman
DIRECTORS & EXECUTIVES
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gH$bn {H$`m {H$ H$nZr A{Y{Z`V 1956 H$s Ymam 224(8) Ho$ AZwgma {d{^
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YmZ H$m`mb` Ho$ boIm narjH$m| H$mo Xo` nm[al{_H$ S 1,80,00,000/-(EH$ H$amoS> Ama Agr bmI _m) VH$ H$s Hw$b am{e bmJy godm H$a, _yb
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31 _B 2011
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{Z`wV H$aZo H$m hH$ h & mgr Ho$ {bò H$nZr H$m gX` hmoZm O$ar Zht h &
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NOTICE
NOTICE is hereby given that the SEVENTY THIRD ANNUAL GENERAL MEETING of the Members of the
Company will be held on THURSDAY the 2nd June, 2011 at the Registered Office of the Company at
24, Whites Road, Chennai - 14 at 3.30 p.m. to transact the following business:
(1) To receive and adopt the Directors' Report and Audited Accounts for the year ended 31st March 2011.
(2) To declare dividend on Equity Shares.
(3) To fix the remuneration of the Auditors for the financial year 2011-12.
To consider and, if thought fit, to pass the undernoted Resolution with or without modification(s) :
RESOLVED THAT pursuant to Section 224(8) of the Companies Act, 1956 approval be and is hereby given for
fixation of Audit Fees to various DO/RO/LCB/HO Auditors at a total sum of A 1,80,00,000/- (Rupees One Crore
Eighty Lacs only) plus applicable service tax, Tax Audit Fees at 20% on Basic Audit Fees, Service Tax Audit Fees at
A 1,000/- per DO/RO/LCB Auditors for the year ending 31.3.2012 and in addition payment of out of pocket and
travelling expenses to the Auditors wherever necessary".
(By Order of the Board)
for United India Insurance Company Limited
Chennai
31st May 2011
S. VENKATARAMAN
Company Secretary
NOTICE
Notes:
1. Any member, entitled to attend and vote, is entitled to appoint a proxy to attend and vote instead of himself
and such a proxy need not be a member.
2. The Proxy Form duly stamped and executed, should be deposited at the registered office of the company not less
than fortyeight hours before the time fixed for the commencement of the meeting.
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VwV H$aVo h &

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gH$b `j r{_`_
d{ H$m {VeV
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ApZ
2010-11
2010-11
2009-10
2010-11
2009-10
2010-11
2009-10
2010-11
2009-10
2010-11
2009-10
2010-11
2009-10
805.33
23.47%
652.25
13.87%
0.00
0.00
805.33
23.47%
652.25
13.87%
68.00
37.25
14.34
18.25
82.34
55.50
274.66
213.11
102.93
88.98
377.59
302.09
501.53
5069.80
10.58%
22.66%
453.56
4133.24
34.62%
22.72%
0.00
0.00
0.00
0.00
501.53
5069.80
10.58%
22.66%
453.56 4133.24
34.62% 22.72%
12.35
625.30
11.04
509.75
5.98
8.33
7.65
5.06
18.33
633.63
18.69
514.81
123.18
1243.03
96.03
1032.18
147.55
102.67
125.25
82.34
270.73
1345.70
221.28
1114.52
6376.66
21.71%
5239.05
22.47%
0.00
0.00
6376.66
21.71%
5239.05
22.47%
705.65
558.04
28.65
30.96
734.30
589.00
1640.87
1341.32
353.15
296.57
1994.02
1637.89
2010-11
598.67
390.70
4452.07
5441.44
25.67%
6.01%
23.30%
22.12%
74.34%
476.39
-2.39%
73.04%
-88.59
25.25%
0.00%
-70.73
1.84%
0.00%
510.08
25.74%
63.34%
405.66
-3.09%
62.19%
77.90%
368.57
36.58%
81.26%
-141.57
20.38%
0.00%
-117.60
51.33%
0.00%
249.13
-0.73%
49.67%
250.97
30.61%
55.33%
87.82%
3610.81
22.75%
87.36%
-94.34
22.09%
0.00%
-77.28
83.91%
0.00%
4357.73
23.33%
85.95%
3533.53
21.86%
85.49%
85.33%
4455.77
20.44%
85.05%
-324.50
22.18%
0.00%
-265.61
40.40%
0.00%
5116.94
22.12%
80.24%
4190.16
19.36%
79.98%
2009-10
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2010-11
2009-10
2010-11
2009-10
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2009-10
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2009-10
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REPORT OF THE BOARD OF DIRECTORS

The Directors have pleasure in presenting the Seventy Third Annual Report of the Company together with the Audited
Statement of Accounts and Balance Sheet for the year ended March 31, 2011.
We are also pleased to report on business performances and operational results of the Company.
Gross Direct Premium

Percentage Growth
In India
Year
2010-11
2009-10
Outside India
Total
2010-11
2009-10
2010-11
2009-10
Reinsurance Premium Accepted
In India
Outside India
Total
Reinsurance Premium Ceded
In India
Outside India
Total
Net Premium
Percentage Increase over
previous year
Percentage to Gross Premium
In India
2010-11
2009-10
2010-11
2009-10
2010-11
2009-10
2010-11
2009-10
2010-11
2009-10
2010-11
2009-10
2010-11
2009-10
Outside India
2010-11
2009-10
Total
2010-11
2009-10
Fire
805.33
23.47%
652.25
13.87%
0.00
0.00
805.33
23.47%
652.25
13.87%
68.00
37.25
14.34
18.25
82.34
55.50
274.66
213.11
102.93
88.98
377.59
302.09
598.67
Marine
501.53
10.58%
453.56
34.62%
0.00
0.00
501.53
10.58%
453.56
34.62%
12.35
11.04
5.98
7.65
18.33
18.69
123.18
96.03
147.55
125.25
270.73
221.28
390.70
Misc.
5069.80
22.66%
4133.24
22.72%
0.00
0.00
5069.80
22.66%
4133.24
22.72%
625.30
509.75
8.33
5.06
633.63
514.81
1243.03
1032.18
102.67
82.34
1345.70
1114.52
4452.07
(A in crores)
Total
6376.66
21.71%
5239.05
22.47%
0.00
0.00
6376.66
21.71%
5239.05
22.47%
705.65
558.04
28.65
30.96
734.30
589.00
1640.87
1341.32
353.15
296.57
1994.02
1637.89
5441.44
25.67%
74.34%
476.39
-2.39%
73.04%
-88.59
25.25%
0.00%
-70.73
1.84%
0.00%
510.08
25.74%
63.34%
405.66
-3.09%
62.19%
6.01%
77.90%
368.57
36.58%
81.26%
-141.57
20.38%
0.00%
-117.60
51.33%
0.00%
249.13
-0.73%
49.67%
250.97
30.61%
55.33%
23.30%
87.82%
3610.81
22.75%
87.36%
-94.34
22.09%
0.00%
-77.28
83.91%
0.00%
4357.73
23.33%
85.95%
3533.53
21.86%
85.49%
22.12%
85.33%
4455.77
20.44%
85.05%
-324.50
22.18%
0.00%
-265.61
40.40%
0.00%
5116.94
22.12%
80.24%
4190.16
19.36%
79.98%
CLASS-WISE PERFORMANCE SUMMARY
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H$a & {d{Z_` bm^ / hm{Z ^r gp_{bV h
2010-11
57.17
11.21
3.92
1.58
408.22
9.37
469.31
9.17
2009-10
-4.79
-1.18%
39.27
15.65%
317.49
8.99%
351.97
8.40%
2010-11
452.91
245.21
3949.51
4647.63
2009-10
410.45
211.70
3216.04
3838.19
2010-11
311.38
61.05%
217.12
87.15%
3857.14
88.51%
4385.64
85.71%
2009-10
198.07
48.83%
218.52
87.07%
2912.65
82.43%
3329.24
79.45%
2010-11
2.40
0.47%
13.47
5.41%
255.67
5.87%
271.54
5.31%
2009-10
-4.41
-1.09%
22.82
9.09%
214.54
6.07%
232.95
5.56%
2010-11
218.09
96.04
1411.25
1725.38
42.76%
38.55%
32.39%
33.72%
2009-10
140.95
34.75%
71.22
28.38%
944.82
26.74%
1156.99
27.61%
2010-11
-78.96
-81.42
-1574.55
-1734.93
-15.48%
-32.68%
-36.13%
-33.91%
2009-10
75.84
18.70%
-100.86
-40.19%
-855.97
-24.22%
-880.99
-21.03%
2010-11
100.83
55.29
943.50
1099.62
19.77%
22.19%
21.65%
21.49%
2009-10
123.91
30.55%
47.05
18.75%
890.74
25.21%
1061.70
25.34%
2010-11
1.54
0.30%
0.90
0.36%
15.83
0.36%
18.27
0.36%
2009-10
7.34
1.81%
3.51
1.40%
50.96
1.44%
61.81
1.48%
2010-11
23.41
-25.23
-615.22
-617.04
4.59%
-10.13%
-14.12%
-12.06%
199.75
49.24%
-53.81
-21.44%
34.77
0.98%
180.71
4.31%
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2009-10
Increase/(decrease) in
Unexpired Risk Reserves
Percentage to Net Premium
Net Premium Earned
Net Incurred Claims

Net Commission
Operating Expenses Related to Insurance

business including Foreign Taxes &
Exchange Gain / Loss
2010-11
57.17
11.21
3.92
1.58
408.22
9.37
469.31
9.17
2009-10
-4.79
-1.18%
39.27
15.65%
317.49
8.99%
351.97
8.40%
2010-11
452.91
245.21
3949.51
4647.63
2009-10
410.45
211.70
3216.04
3838.19
2010-11
311.38
61.05%
217.12
87.15%
3857.14
88.51%
4385.64
85.71%
2009-10
198.07
48.83%
218.52
87.07%
2912.65
82.43%
3329.24
79.45%
2010-11
2.40
0.47%
13.47
5.41%
255.67
5.87%
271.54
5.31%
2009-10
-4.41
-1.09%
22.82
9.09%
214.54
6.07%
232.95
5.56%
2010-11
218.09
96.04
1411.25
1725.38
42.76%
38.55%
32.39%
33.72%
2009-10
140.95
34.75%
71.22
28.38%
944.82
26.74%
1156.99
27.61%
2010-11
-78.96
-81.42
-1574.55
-1734.93
-15.48%
-32.68%
-36.13%
-33.91%
2009-10
75.84
18.70%
-100.86
-40.19%
-855.97
-24.22%
-880.99
-21.03%
2010-11
100.83
55.29
943.50
1099.62
19.77%
22.19%
21.65%
21.49%
2009-10
123.91
30.55%
47.05
18.75%
890.74
25.21%
1061.70
25.34%
2010-11
1.54
0.30%
0.90
0.36%
15.83
0.36%
18.27
0.36%
2009-10
7.34
1.81%
3.51
1.40%
50.96
1.44%
61.81
1.48%
2010-11
23.41
4.59%
-25.23
-10.13%
-615.22
-14.12%
-617.04
-12.06%
2009-10
199.75
49.24%
-53.81
-21.44%
34.77
0.98%
180.71
4.31%
Underwriting Results
Investment Income Apportioned,

including Profit on realisation of
Investments (Net of Provision for
Non-Performing Assets)
Other Income Outgo

Operating Results in Policyholders' Account

gmame
(nò H$amoS>m| _|)
{ddam
nm{bgrYm[a`m| Ho$ ImVo _| MmcZ n{aUm_
{Zdoe H$s {~H s go bm^ g{hV {Zdoe Am` H$m {d{Z_`Z
(Ja {ZnmXZ n[agnpV`m| Ho$ {bE ew mdYmZ)
- eoàYm[a`m| H$m mmVm
A` Am` Ama ``
H$a Ho$ nyd bm^
H$a Ho$ {bE mdYmZ
OmoS>o : H$a g_OZ
H$a Ho$ nMmV ew bm^
KQ>mE gm_m` Ama{j{V {Z{Y H$mo / go AV[aV am{e
bm^me (Vm{dV)
{dVaU bm^me H$a
2010-11
2009-10
-617.04
180.71
732.19
15.68
652.97
-10.84
130.83
0.70
822.84
116.00
-0.42
-0.95
130.55
95.69
707.79
541.67
30.00
4.86
142.00
24.12
nyOr d {Z{Y`m
(nò H$amoS>m| _|)
31.03.2011 H$mo
150.00
MwH$Vm nyOr
nyOr Ama{jV
gm_m` Ama{jV
{Zdoe Ama{jV
{dXoer _wm gofU Ama{jV
Hw$b
3000
4190.16
5239.05
2880.65
3739.56
4000
2225.85
3154.78
5000
2529.53
3498.77
6000
3510.41
4277.77
7000
1.36
4094.57
0.87
3998.89
0.86
1.13
1.34
4247.93
4152.45
2000
1000
0
2005-06 2006-07 2007-08 2008-09 2009-10 2010-11
ew / NET
gH$b / GROSS
r[_`_ {dbofU - g_V (nò H$amoS>m| _|)
PREMIUM ANALYSIS - GLOBAL (A in Crores)
10
31.03.2010 H$mo
150.00
1.36
5116.94
6376.66
{ddam
SUMMARY
(A in crores)
Details
Operating Results in Policyholders Account
Investment Income Apportioned, including Profit on realisation of
investments (Net of Provision for Non-Performing Assets) Shareholders Account
Other Income & Outgo
Profit Before Tax
Provision for Tax
2010-11
2009-10
-617.04
180.71
732.19
15.68
652.97
-10.84
130.83
822.84
0.70
-0.42
116.00
-0.95
130.55
707.79
95.69
30.00
4.86
541.67
142.00
24.12
Add : Tax Adjustments

Net Profit After Tax
Less : Amount transferred to/from General Reserve
Dividend (Proposed)
Dividend Distribution Tax
CAPITAL & FUNDS
Details
As on 31.03.2011
150.00
Paid-up Capital
Capital Reserve
General Reserve
Investment Reserve
1.36
1.36
4094.57
0.87
3998.89
0.86
1.13
1.34
4247.93
4152.45
Foreign Currency Translation Reserve
5069.80
Total
5000
2500
2305.33
3000
2570.48
3500
2914.42
4000
3368.05
4500
4133.24
5500
2007-08
805.33
501.53
2006-07
652.25
453.56
2005-06
572.79
336.92
524.3
300.83
500
664.34
263.95
1000
645.45
203.97
2000
1500
ApZ /FIRE
2008-09
g_wr / MARINE
2009-10
As on 31.03.2010
150.00
2010-11
{d{dY / MISC.
^maV _| gH$b `j r{_`_ (nò H$amoS>m| _|)

GROSS DIRECT PREMIUM IN INDIA (Rs. in Crores)
(A in crores)
11
14000
18677.85
17209.77
12969.07
16000
15283.9
18000
13279.17
20000
13561.38
621.13
880.09
2010-11
12000
4247.93
3613.59
3245.69
2759.91
4000
2357.4
6000
4152.45
2006-07
10000
8000
2000
0
2005-06
780.72
2009-10
2007-08
654.77
2008-09
2005-06 2006-07 2007-08 2008-09 2009-10 2010-11
nyOr d {Z{Y / CAPITAL & FUNDS
651.08
703.03
n[agnpV`m / ASSETS
nyOr d {Z{Y VWm Hw$b n[agnpV`m (nò H$amoS>m| _|)

CAPITAL & FUNDS AND TOTAL ASSETS (A in Crores)
`mO, bm^me Ama {H$am`m (nò H$amoS>m| _|)

INTEREST, DIVIDEND AND RENT (A in Crores)
(nò H$amoS>m| _|)

H$m`{ZnmXZ H$s g_rjm :
2010-11
2009-10
5239.05
6376.66
gH$b `j r{_`_
22.47%
JV df H$s VwbZm _| {VeV _| n[adVZ
21.71%
H$nZr Zo Mmby df _| 21.71% H$s d{ hm{gb H$s h Omo JV df _| 22.47% Wr &
4190.16
5116.94
ew r{_`_
19.36%
JV df H$s VwbZm _| {VeV _| n[adVZ
22.12%
df 2010-11 _| H$nZr Zo A 5116.94 H$amoS> H$m ew r{_`_ hm{gb {H$`m Ama ew r{_`_ A 926.78 H$amoS> go ~T>r & {VYmaU AZwnmV Mmby
df _| 80.24% h Omo JV df _|$79.98% Wm &
Ag_m Omo{I_ Ama{j{V _| n[adVZ
351.97
469.31
ew r{_`_ H$m {VeV
8.40%
9.17%
CnJV Xmdo (ew)
3329.24
4385.64
ew r{_`_ H$m {VeV
79.45%
85.71%
H$_reZ (ew)
232.95
271.54
ew r{_`_ H$m {VeV
5.56%
5.31%
~r_m H$mamo~ma go g~{YV MmbZ IM ({d{Z_` hm{Z / bm^ g{hV)
1156.99
1725.38
ew r{_`_ H$m {VeV
27.61%
33.72%
MmbZ IM _| JV df H$s VwbZm _| A 568.39 H$amoS> H$s ~T>moVar hB h & boIm _mZH$ 15 (gemo{YV) Ho$ VhV AnojmZwgma Bg `` _| doVZ
gemoYZ Ho$ n[aUm_d$n hE ^md, n|eZ CnXmZ A` Xo`VmAm| Ho$ {bE {H$ò Jò n`m mdYmZ ^r gp_{bV h &
{Zdoe Am` (ew mdYmZ)
1714.67
1831.81
nm{bgrYm[a`m| Ho$ ImVo H$mo AV[aV
1061.70
1099.62
eoàYm[a`m| Ho$ ImVo H$mo AV[aV
652.97
732.19
12
600
500
822.84
707.79
520.34
528.86
700
452.74
425.23
800
502.91
476.05
900
658.13
631.62
130.83
130.55
400
300
200
100
0
2005-06
2006-07
2007-08 2008-09 2009-10 2010-11
H$a Ho$ nyd bm^/ PROFIT BEFORE TAX
H$a Ho$ ~mX bm^ / PROFIT AFTER TAX
bm^ {dbofU (nò H$amoS>m| _|)

PROFIT ANALYSIS (A in Crores)
(A in crores)

Percentage change over previous year
2010-11
2009-10
6376.66
21.71%
5239.05
22.47%
5116.94
22.12%
4190.16
19.36%
The Company recorded a growth rate of 21.71% as against 22.47% in the previous year.
Net Premium
Percentage change over previous year
The net premium grew by A 926.78 crores to A 5116.94 crores in the year 2010-11. The retention ratio stands at
80.24% as compared to 79.98% in the previous year.
Change in Unexpired Risk Reserves
469.31
9.17%
351.97
8.40%
Incurred Claims (Net)

4385.64
85.71%
3329.24
79.45%
Commission (Net)
271.54
5.31%
232.95
5.56%
1725.38
33.72%
1156.99
27.61%
Operating expenses relating to Insurance Business (including Exchange Loss / Gain)

The operating expenses have increased by A 568.39 crores over the previous year. In addition to the impact of wage
revision, the expenses included provisions made for the Pension, Gratuity and other liabilities as required under the
Accounting Standard 15 (Revised) in this regard.
Investment Income (Net of provisions)
Apportioned to Policy Holders
Apportioned to Share Holders
1831.81
1099.62
732.19
1714.67
1061.70
652.97
PERFORMANCE REVIEW:
13
df 2010-11 _| {Zdoe go Am` A 1831.81 H$amoS> VH$ ~T>m Omo JV df 2009-10 _| A 1714.67 H$amoS> Wr & df 2010-11 _| {Zdoe na AmgV
Am` ({Zdoe H$s {~H$s na bm^ g{hV) 17.58% h Omo df 2009-10 _| 17.09% Wr & H$nZr Zo G$U Ama ~Yn Ho$ dJuH$aU Ama Ja {ZnmXZ
n[agnpV`m| Ho$ {bE mdYmZ Ho$ g~Y _| ~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU Ho$ _mZXS> H$m AZwnmbZ {H$`m & 31 _mM 2011 H$mo ew
Ja {ZnmXZ n[agnpV`m| H$m {VeV Hw$b {Zdoe H$s VwbZm _| 0.10% h Omo 31 _mM 2010 _| 0.02% Wm &
(nò H$amoS>m| _|)
amOd ImVm n[aUm_
Hw$b n[agnpV`m
{Zdoe n[agnpV`m (ImVm _y`)
31 _mM 2011 H$mo Hw$b {Zdoe H$m ImVm _y` A 11,247.57 H$amoS>
A 1,993.36 H$amoS> h Omo df 2009-10 _| A 885.71 H$amoS> Wm &
2010-11
2009-10
(617.04)
180.71
18677.85
11247.57
17209.77
9254.21
h Omo JV df _| A 9,254.21 H$amoS> Wm & df 2010-11 H$m gM`Z
31 _mM 2011 H$mo H$nZr Ho$ gm`me eoà ^mJ H$m ~mOma _y` A 7,465.61 H$amoS> h {OgH$m ImVm _y` A 2,749.36 H$amoS>
_y` H$_e A 7,480.40 H$amoS> Ama A 2,671.94 H$amoS> Wm &
h & {nN>bo df H$m
~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU {d{Z`_ H$m AZwnmbZ :

31 _mM 2011 H$mo H$nZr Zo ~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU mam AmYma^yV jo _| {Zdoe g{hV {Zdoe go g~{YV Omar {d{Z`_ H$m AZwnmbZ
{H$`m {OgH$m {ddaU {ZZmZwgma h

dJ
31 _mM 2011 H$mo

{Zdoe
(nò H$amoS>m| _|)
Hw$b {Zdoe
_| %
{ZYm[aV gr_m
Ho$r` gaH$ma, am` gaH$ma Ama A` AZw_mo{XV {V^y{V`m
3,601.99
32.02
30% go H$_ Zht
am` gaH$ma H$mo Amdmg Ama G$U Ama ApZ e_Z CnH$aU
1,185.09
10.54
5%
AmYma^yV jo
1,185.09
10.54
10% go H$_ Zht
go H$_ Zht
(nò H$amoS>m| _|)

MwH$Vm nyOr
Ama{j{V`m Ama A{Yeof
150.00
150.00
4097.93
4002.45
df 2010-11 _| gm_m` Ama{jV Ho$ ImVo H$mo A 95.69 H$amoS> H$s am{e H$m AVaU {H$`m J`m & AV[aV am{e H$a Ho$ nMmV bm^ H$m 73.30%
~ZVr h &
bm^me
31 _mM, 2011 H$mo g_m df Ho$ {bò {ZXoeH$m| Zo MwH$Vm nyOr na 20% bm^me H$s gVw{V H$s h , Omo H$a g{hV bm^me A 34.68 H$amoS> h
emoY j_Vm H$s gr_m
~r_m {d{Z`m_H$ Ama {dH$mg mm{YH$aU Ho$ {d{Z`_ Ho$ VhV Ano{jV emoY j_Vm H$s gr_m
CnbY emoY j_Vm H$s gr_m
emoY j_Vm H$m AZwnmV 31.3.2011 H$mo 2.89 h Omo 31.3.2010 H$mo 3.41 Wm &
14
(nò H$amoS>m| _|)

1343.54
3883.77
Investment income increased to A 1831.81 crores in 2010-11 as compared to A 1714.67 crores in the year
2009-10. The mean yield on investments (including profit on sale) is 17.58% as compared to 17.09% in 2009-10.
The Company followed the IRDA norms relating to classification of loans and debentures and provision for NonPerforming Assets. The net NPA as a percentage to Total Investments stood at 0.10% as on 31.03.2011 as against
0.02% as on 31.03.2010.
(A in crores)
(617.04)
2009-10
180.71
18677.85
11247.57
17209.77
9254.21
2010-11
Revenue Account Result
Total Assets
Investment Assets (at Book Value)
Book value of total investments as at 31st March 2011 aggregated to A 11,247.57 crores from A 9,254.21crores in
the previous year and the net accretion during the year amounted to A 1,993.36 crores as against A 885.71 crores
in 2009-10.
The Market Value of our equity portfolio as at 31st March 2011 stood at A 7,465.61 crores as compared to
book value of A 2,749.36 crores. The corresponding value for the previous year was A 7,480.40 crores and
A 2,671.94 crores, respectively.
Compliance with IRDA Regulations :
Category
Investment
as on 31.3.2011
(Rs. in crores)
% to total
investments
Prescribed Limit
Central Government, State Government and

Other Approved Securities
3,601.99
32.02
Not less
than 30%
Housing and Loans to State Govt. Housing

and Fire Fighting
1,185.09
10.54
Not less
than 5%
Infrastructure Sector
1,185.09
10.54
Paid Up Capital
Reserves and Surplus
Not less
than 10%
(A in crores)
150.00
150.00
4097.93
4002.45
An amount of A 95.69 crores was transferred to General Reserve in the year 2010-11. The transfer represents
73.30% of the profit after tax.
DIVIDEND
The Directors recommend a dividend of 20% on the paid-up capital for the year ended 31st March 2011. Total outgo
in the form of dividend including taxes, will be A 34.86 crores.
SOLVENCY MARGIN
Required Solvency Margin under IRDA Regulations
Available Solvency Margin
The solvency ratio as on 31.03.2011 was 2.89 as against 3.41 as on 31.03.2010.
(A in crores)
1343.54
3883.77
As on 31st March 2011, the Company has complied with IRDA Regulation on Investments including investment in
Infrastructure as under:
15
(nò H$amoS>m| _|)

Ymam 40 C H$m AZwnmbZ
A{Y{Z`_ Ho$ VhV IM H$m {ZYm[aV {VeV
H$nZr H$o dmV{dH$ IM H$m {VeV
A{Y{Z`_ Ho$ VhV H$_reZ g{hV IM H$m {VeV
H$_reZ g{hV H$nZr H$o dmV{dH$ IM H$m {VeV
2010-11
2009-10
19.61%
27.05%
25.92%
33.64%
19.57%
22.00%
28.51%
29.36%
CnamoV {VeV H$nZr Ho$ gH$b `j r{_`_ Ho$ AmYma na JUZm {H$`m J`m h &
_w` boIm AZwnmV

{ddaU
VH$ZrH$s Ama{jV AZwnmV
ew {VYmaU AZwnmV
MmbZ bm^ AZwnmV
ew Am` AZwnmV
ew _y` go m Am`
nwZ~u_m AZwnmV
2010-11
2009-10
142.69 %
145.43 %
80.24 %
79.98 %
-12.06 %
4.31 %
2.55 %
16.89 %
3.07 %
17.06 %
31.27 %
31.26 %
n`mdaU amhV {Z[Y

OZ Xm{`d ~r_m A{Y{Z`_ 1991 H$s Ymam 7E Ho$ VhV J{R>V n`mdaU ghm`Vm H$mof `moOZm 2008 (Or Eg Ama 768 (B) {XZmH$ 4.11.2008)
Ho$ IS> 4 Ho$ AVJV, `wZmBQ>oS> B{S>`m H$s {Z`wpV H$mof ~YH$ Ho$ $n _| H$s JB h VWm g_V ~r_m H$n{Z`m| go `moJXmZ m H$aHo$ Bgo `moOZm _|
{d{Z{XQ>mZwgma {Zdoe H$aZo hoVw A{YH$V {H$`m J`m h& df 2010 - 11 Ho$ XmamZ ~r_m H$n{Z`m| go m A 5.79 H$amoS> Ho$ `moJXmZ H$mo, H$mof _|
WmZmV[aV {H$`m J`m h & `moOZm Ho$ AZwgma CV EH${V am{e H$mo ~H$ _| nWH$ $n go "gmd{Y O_m' _| aIm J`m h & {X. 31.3.2011 H$mo "gmd{Y
O_m' `moOZm _| Hw$b am{e A 352.79 H$amoS> Wr &
Wyb Am{WH$ n[adoe
df 2008-09 Ho$ {dd$ {dVr` gH$Q> Ho$ H$maU ^maVr` AW`dWm _Xr go VoOr Câm h Ama X{Z`m Ho$ g~go VoOr go ~T>Vr AW`dWmAm| _| go EH$
~Zm hAm h & df 2008-09 _| gH$b Kaoby CnmX 6.8% VH$ {\$gbZo Ho$ ~mX 8% H$s d{ H$s Ama 2010-11 _| Bg Va go D$na ahZo H$m
AZw_mZ h & JV dfm] _| {dVr` Ama Am{WH$ KQ>ZmAm| Ho$ H$maU {dH$mg J{V H$s pWaVm _| qMVmE ~T> JB h & df 2011-12 _| ^r VrZ {MVmE `m{Z
C _wm\$s{V, {dVr` VZmd Ama Mmby ImVm KmQ>m Omar ahZo H$s g^mdZm h & df 2011-12 Ho$ XmamZ BZ_| go òH$ H$m ^md ~XbVr VrdVm Ho$
gmW bJm hmoZo H$s g^mdZm h & ^maV Ho$ _yb ^yV gMmbH H m _`_ Ad{Y {dH$mg H$s g^mdZm ~aH$ama ahoJm & hmbm{H$ ^maVr` qMVmAm| H$s Zr{V
{dd KQ>ZmAm| H$s {V{H$`mAm| Ho$ gmW gmW df 2011-12 EH$ MwZmVrnyU df ~ZZo H$s g^mdZm h & BgHo$ ~mdOyX AZw_mZm| Ho$ AZwgma ^maVr`
AW`dWm df 2011-12 _| 8% go A{YH$ d{ hm{gb H$aZo H r Amem h &
^maV _| Ja OrdZ ~r_m CmoJ
^maVr` gmYmaU ~r_m CmoJ Zo Bg df {nN>bo {dVr` df H$s VwbZm _| 22.33% H$s {demb d{ XO H$s h & dVwV gm_m` Am{WH$ gwYma H$mo
gw{ZpMV H$aVm hAm `h $PmZ `h aoIm{H$V H$aVm h {H$ df 2011-12 Ho$ {bE gH mam_H$ d{ XO H$s Om gH$Vr h & _moQ>a VVr` nj r{_`_ _| hB
~T>moVar Ama `pVJV dm` ~r_m H$s nwZXa {ZYmaU H$o n[aUm_d$n H$nZr H$o H$mamo~ma H$s d{ Xa _O~yV ahoJr&
_moQ>a (A 18116 H$amoS>) Ama dm` (A 11137 H$amoS>) ~r_m CmoJ H$s r{_`_ Ho$ EH$ _hdnyU {hgo h & gm_m`V Ja OrdZ (gH$b `j
r{_`_ H$m 0.61% na) H$m _X ^md Ama {deof $n go dm` ~r_m Ama AmQ>mo_mo~mBb CmoJ, _moQ>a Ama dm` ~r_m H$s {ZaVa d{ H$mo XoIVo hE
Eogm bJVm h {H$ df 2011-12 _| H$nZr H$s d{ _| BZ ^mJm| H$m `moJXmZ _hdnyU ahoJm &
Bg g_` 24 Ja OrdZ ~r_m H$n{Z`m h {OZ_| 3 dV dm` ~r_mH$Vm h Ama 2 {deofk ~r_mH$Vm h &
16
(A in crores)
Compliance with Section 40 C
Percentage of expenses prescribed under the Act
Company's actual percentage of expenses
Percentage of expenses including commission prescribed under the Act
Company's actual percentage of expenses including commission
2010-11
2009-10
19.61%
27.05%
25.92%
33.64%
19.57%
22.00%
28.51%
29.36%
The above percentages are calculated on GDP of the Company.
KEY ACCOUNTING RATIOS

Particulars
2010-11
2009-10
142.69 %
145.43 %
80.24 %
79.98 %
-12.06 %
4.31 %
Net Earning Ratio
2.55 %
16.89 %
Return on Networth
3.07 %
17.06 %
31.27 %
31.26 %
Technical Reserve Ratio

Net Retention Ratio
Operating Profit Ratio
Reinsurance Ratio
The Company has been appointed as the Fund Manager under Clause 4 of Environment Relief Fund Scheme 2008
(GSR 768(E) dt. 4.11.2008) constituted under Sec. 7A of the Public Liability Insurance Act 1991 and has been
authorised to receive contributions from all the insurance companies and keep invested the same as prescribed in the
Scheme. During the year 2010-11, an amount of A 5.79 crores received towards contribution from insurance
companies has been transferred into the fund. The amount so collected has been kept in separate fixed deposits with
banks as per the Scheme. The total amount lying in fixed deposits as on 31.03.2011 was A 352.79 crores.
MACRO ECONOMIC ENVIRONMENT
The Indian economy has emerged rapidly from the slowdown caused by the global financial crisis of 2008-09 and
remains one of the fastest growing economies of the world. After dipping to 6.8% in 2008-09, GDP growth had
recouped sharply to 8% and is projected to remain above this level in 2010-11. Economic and financial events over
the year, however, have increased concerns about the sustainability of the growth momentum. Three concerns are
likely to persist in 2011-12 high inflation, fiscal stress and the current account deficit. The impact of each of these
is likely to be felt with varying intensity during the course of 2011-12. The fundamental drivers of India's medium
term growth prospects remain intact. However, global developments, in conjunction with Indian Policy responses to
the concerns noted above, are likely to make 2011-12 a challenging year. Despite this, the Indian economy is poised
to grow over 8% for the year 2011-12 as per the consensual estimates.
NON-LIFE INSURANCE INDUSTRY IN INDIA
In line with the growth trajectory of the Indian Economy for the year 2010-11, the Non-Life Insurance Industry in
India recorded a robust growth at 22.33% over the previous financial year. With the Indian economy poised to
maintain the growth momentum for the year 2011-12 and with the hike in the motor TP premium and repricing of the
individual health policies, the Company would maintain a healthy growth rate in business.
Motor (at A 18116 cr.) and Health (at A 11137 cr.) insurances constitute a major portion of the Industry's
premium. In view of the low penetration level of the Non-Life Insurance (at 0.61% of GDP) in general, considering
the continued growth traction of the automobile industry and growing awareness in health insurance, motor and
health insurance would be the significant growth drivers for the company for the year 2011-12.
There are 24 non-life insurance companies out of which 3 are monoline Health insurers and 2 are specialised insurers.
ENVIRONMENTAL RELIEF FUND
17
`dgm` Ama {dVr` H$m`{ZnmXZ

df 2010-11 _| `wZmBQ>oS> B{S>`m Zo 21.71% H$s {dH$mg Xa Ho$ gmW gH$b `j r{_`_ Am` .6376.66 H$amoS> H$m `dgm` {H$`m h Ama g^r
gm_m` d dm` ~r_mH$VmAm| mam XO gH$b `j r{_`_ Am` A 44127 H$amoS> Ho$ r{_`_ H$m 14.45% H$m eoà A{OV {H$`m h & H$nZr Zo
doVZ nwZarjU Ama _moQ>a VVr` nj nyb Xmdm| hoVw A{V[aV mdYmZm| hoVw A 900 H$amoS> Ho$ ^md H$mo PobVo hE A 130.55 H$amoS> Ho$ H$a-CnamV
r{_`_ H$mo hm{gb {H$`m h & ~mOma _y` {Zdoe A 15938 H$amoS> VH$ {H$E JE Ama A 4245.44 H$amoS> H$s ZoQ>dW hm{gb H$s &
H$nZr g_wr H$mJm} Ama B{O{Z`[aJ _| g~go ~S>r ~r_mH$Vm h Ama n[a`moOZm ~r_mAm| _| ZoVd {Z^mVr h & H$nZr Zo ApZ, g_wr nmoV, dm` Ama
A` {d{dY ~r_m ^mJm| _| {Vr` WmZ m [H `m h & df Ho$ XmamZ H$nZr Zo 22996044 nm{b{g`m Omar H$s & `h Xoe _| g~go `mXm h & df Ho$
XmamZ gm_m{OH$ jo Ho$ AVJV 16299413 `pV`m| H$mo gwajm XmZ H$s &
nwZ~u_m
{dd Va na gmb Ho$ A{YH$me g_` KQ>Zm _wV JwOa J`m hmbm{H$ Bg df H$s A{V_ {V_mhr _| AmQ>o{b`m, `yOrbS> Ama OmnmZ _| Hw$N>
_wI {dnpVnyU KQ>ZmAm| go {Ka J`m Wm & df 2010-11 Ho$ {bE AmZwnm{VH$ Ama Ja AmZwnm{VH$ H$ama {VpR>V nwZ~u_mAm| Ho$ gmW {H$`m J`m &
2011-12 Ho$ nwZ~u_m H$m`H$_ Ho$ _y` {ZYmaU na {dnpVnyU KQ>ZmAm| H$m Hw$N> ^md nS>m & `{n gmYmaU ~r_m {ZJ_ nwZ~u_m H$mo 10% H$m
A{Zdm` AnU Omar ahm & ~r_m {d{Z`m_H Ama {dH mg m{YH aU Zo nòH H mamo~ma Ho [bò A[Zdm` AnU na H n H m nwZ : dVZ {H `m h &
gJR>Z H$s H$m`mVaU n[a`moOZm "`yZrgO'
Zd~a 2007 _| ma^ hB CnH$_ H$s Bg H$m`mVaU n[a`moOZm H$s g\$bVm H$s JmWm BgHo$ AVJV MbmE Om aho g^r A{^`mZm| _| M_H$m[aH$
n[aUm_ XemVo hE bJmVma Vrgao df ^r Omar h & `yZrgO Ho$ AVJV {d{^ d{Q>H$bm| mam g{dVaU MZbm| Ho$ _m`_ go H$nZr Zo A 1137.61 H$amoS>
H$m r{_`_ gM`Z hm{gb H$aZo _| ghm`Vm ahm h
Eb gr ~r H$moR>m| Zo A 586.63 H$amoS> r{_`_ A{OV H$aVo hE 73% d{ Xa Ho$ gmW A 247.14 H$amoS> H$s A{^d{ XO H$s h & A{^H$VmAm| H$s
g`m 21261 go ~T>H$a 35707 hmo JB h & `y_g EOogr Zo A 2544 H$amoS> H$m r{_`_ A{OV H$aVo hE 29% d{ Xa Ho$ gmW A573 H$amoS> H$s
A{^d{ XO H$s h & Bg df ~H$m`moaog Ho$ VhV H$nZr Zo ~H$m|, jor` Jm_rU ~H$m| VWm gaH$mar ~H$m| Ho$ gmW aUZr{VH$ gh^m{JVm JR>~YZ {H$`m &
_moQ>a S>rba d{Q>H$b Ho$ AVJV H$nZr Zo AmQ>mo_mo~mBb {Z_mVmAmo Ho$ gmW JR>~YZ {H$`m &
{XZmH$ 31.3.2011 VH$ 18 g{dg h~m| Zo114 _S>br` H$m`mb`m| VWm 83 emIm H$m`mb`m| H$mo Amd[aV H$aVo hE nyd Ho$ 55 {XZm| Ho$ {H$`m g_`
(Q>Q>) H$mo H$_ H$aHo$ 30 {XZ VH$ gr{_V {H$`m & g{dg h~m| mam 96.13% H$m Xmdm {ZVmaU AZwnmV hm{gb {H$`m J`m & VVr` nj h~m| mam
46.28% H$m Xmdm {ZVmaU AZwnmV hm{gb {H$`m J`m &
hoW Ed Q>r nr E A{^`mZ Ho$ VhV nhMmZ H$mS>mo Ho$ {ZJ_ VWm Xmdm {ZVmaU Ho$ {H$`m g_` (Q>Q>) _| H$_r AmB & df 2010-11 g^r jor`
H$m`mb`m| _| Eg E_ B Ho$ nyU {H$`md`Z H$m ^r gmjr ahm, {OgZo g^r {dH$mg A{YH$m[a`m| H$mo Amd[aV {H$`m & h_mar H$nZr H$s _mM 2012 VH$
60000 g{H$` A{^H$VmAm| H$s A{^H$Vm \$mO Ho$ _m`_ go Am{WH$ jo Ho$ CâVo hE Eg E_ B jo na \$moH$g H$aZo VWm IwXam jo H$mo b{jV H$aZo
H$s `moOZm h &
{dVr` {d[Zdoe, Jm_rU Ama gm_m{OH$ jo Ed _mBH$mo ~r_m
Bg df ^r h_mar H$nZr Zo Jm_rU, gm_m{OH$ jo, _mBH$mo ~r_m Ed gm_y{hH$ ~r_m g~Yr `moOZmAm| Ho$ jo _| AZwH$aUr` H$m` {H$`m h &
~r nr Eb n[admam| hoVw dm` ~r_m `moOZm
gmd^m{_H$ dm` ~r_m `moOZm H$m CXXo` g_mO Ho$ Am{WH$ $n go H$_Omoa dJm| H$mo dm` ~r_m bm^ _wha`m H$admZm h &
18
BUSINESS & FINANCIAL PERFORMANCE

The Company has registered a growth rate of 21.71% during 2010-11 with a Gross Direct Premium Income (GDPI)
of A 6376.66 crores retaining a market share of 14.45% over the GDPI of A 44,127 crores accounted by the
general and health insurers. The Company has achieved a PAT of A 130.55 crores after absorbing the impact of
wage revision and additional provision towards Motor Third Party Pool claims to the tune of about A 900 crores.
The market value of investments went up to A 15,938 crores, and net worth to A 4,245.44 crores.
The Company is the largest insurer in Marine Cargo and Engineering, indicating the strong leadership in Project
Insurances. The Company enjoys a respectable second position in Fire, Marine Hull, Health and Other Miscellaneous
Insurance segments. The total number of policies issued during the year was 22996044, the highest in the country
and number of lives covered under social sector during the year was 16299413.
REINSURANCE
While the major part of the year went incident-free globally, the last quarter of the year was buffeted by some major
catastrophic events in Australia, New Zealand and Japan. The placement of Proportional and Non Proportional
Treaties for 2010-11 were done with reputed reinsurers. The catastrophic events had some impact on the pricing of
2011-12 Reinsurance Programme. Although the Obligatory Cessions to GIC Re continued at 10%, IRDA
reintroduced caps on Obligatory Cession for each Line of Business.
The enterprise transformation project which was started in November 2007 continued its success story for the third
consecutive year by showing spectacular results in all the initiatives rolled out under this project. The professional
management of distribution channels by the verticals under UNISURGE has helped the Company to sustain the
growth momentum with a stupendous premium accretion of A 1137.61 crores.
The Large Corporates & Brokers' (LCB) offices brought in a premium of A 586.63 crores with an accretion of
A 247.14 crs. at a growth rate of 73%. The number of active agents increased from 21,261 to 35,707. Agency
vertical notched up a premium of A 2544 crs. with an accretion of A 573 crs. and a growth rate of 29%.
Bancassurance vertical of the Company has entered into a strategic partnership with many Banks, RRBs and
co-operative Banks during the year. Under Motor Dealer vertical, the Company has entered into tie ups with major
Automobile manufacturers.
As on 31.03.2011, 18 service Hubs covering 114 DOs & 83 BOs have achieved a reduction in the Turn Around Time
(TAT) in claim settlement to 30 days from 55 days earlier. Service hubs have achieved a claim settlement ratio of
96.13%. The TP Hubs achieved a claim settlement ratio of 46.28%.
Health & TPA initiative resulted in reduction of TAT in issuance of ID cards and claims settlement. The year 2010-11
also witnessed completion of roll out of SME vertical in all the Regions. The Company plans to focus on the emerging
SME segment of the economy and to target the retail segment through an Agency force of 60,000 active agents by
March 2012.
FINANCIAL INCLUSION , RURAL AND SOCIAL SECTOR AND MICRO INSURANCE
This year also the Company has done an exemplary work in Rural and Social Sector, Micro Insurance and Mass
Insurance Schemes.
Health Insurance Scheme for BPL families
The Universal Health Insurance Scheme aims to provide health insurance benefits to economically weaker sections of
the Society.
PROGRESS UNDER ENTERPRISE TRANSFORMATION PROJECT -UNISURGE
19
h_Zo JV df 2009-10 Ho$ XmamZ gmd^m{_H$ dm` ~r_m `moOZm Ho$ VhV 191903 ~r nr Eb n[admam| H$mo Amd[aV H$aZo H$s VwbZm _|, Bg df
205722 n[admam| H$mo Amd[aV H$aVo hE A 893 bmI> H$m r{_`_ A{OV {H$`m & BZ `moOZmAm| Ho$ CXXo`m| H$m H$m`md`Z Ho$ {V H$nZr H$s
{V~Vm H$mo {Vq~{~V H$aVr h &
_w` gmd^m{_H$ dm` ~r_m `moOZm _| dV ghm`H$ Jyn lr jo Y_Wbm Ho$ gX` ^r gp_{bV h & H$ZmQ>H$m am` Ho$ Jm_rU {dH$mg n[a`moOZm,
Ho$ AVJV 88795 n[admam| H$mo Amd[aV {H$`m h VWm dmiX H$mQ>Qw>dmo_ (V{_b ZmSw> Ho$ ~r nr Eb _{hbmAm| hoVw g_wXm` na AmYm[aV dm` `moOZm)Ho$
AVJV 27175 n[admam| H$mo Amd[aV {H$`m h & EZ Or Amog, dV ghm`H$ Jyn VWm Jm_rU ghH$mar ~H$m| H$mo Omar A` nm{b{g`m| mam H$nZr Zo ~r nr
Eb Am~mXr H$mo Amd[aV {H$`m h &
H$nZr Zo ^maV gaH$ma Ho$ gwZm_r OZ ~r_m `moOZm Ho$ Vrgao df _| AmY Xoe Ho$ 9 {Obo (65339 n[admam|) VWm nwXoar Ho$ 2 {Obo (10979
n[admam|) _| gwZm_r mam nr{S>V n[admam| H$mo ~r_m XmZ {H$`m h &
amQ>r` dm` ~r_m `moOZm
`wZmBQ>oS> B{S>`m dm` ~r_m `moOZm H$m {H$`md`Z ew$ go H$a ahr h & df 2010-11 _| 6 am`m| Ho$ 56 {Obo _| 3808151 n[admam| Ho$
13282256 `pV`m| H$mo gwajm XmZ H$s h &
{ZJ_r` gm_m{OH$ Xm{`d
H$nZr {ZJ_r` gm_m{OH$ Xm{`d Ho$ {V {V~ h & V{_bZmSw> _| ~a_Jb_ Jmd H$mo JmoX {b`m & `h n[a`moOZm Jmd Ho$ {ZYZ OZVm Ho$ dm`,
dN>Vm Ama {ejm H$m {dMma H$aVr h &
_mBH$mo ~r_m
_mBH$mo ~r_m, {ZYZ OZVm H$s Agwajm H$mo H$_ H$aZo Ama {d{eQ> Omo{I_m| go ~MmZo H$m _hdnyU gmYZ h & AV `wZmBQ>oS> B{S>`m Zo _mBH$mo ~r_m CnmX
na `mZ XoZo Ho$ {bE _mBH$mo ~r_m H$j Imobm h & H$nZr Zo 5 _mBH$mo H$j, Mo, _Xa, hXam~mX, O`nwa Ama nwUo jor` H$m`mb`m| _| Imobm h & AmZo dmbo
dfmo _| Eogm H$j g_V jor` H$m`mb`m| _| Imobm OmEJm &
`wZmBQ>oS> B{S>`m Zo df 2010-11 _| _mBH$mo ~r_m go A 308 H$amoS> r{_`_ hm{gb {H$`m Omo JV df _| A 158.42 H$amoS> Wm Ama 94.41% H$s d{
XO H$s &
H$nZr mam Jm_rU Ama gm_m{OH$ jo _| m gH$b r{_`_ H$m {ddaU ZrMo {X`m J`m h
(nò H$amoS>m| _|)
{ddaU
H$mamo~ma go m gH$b r{_`_
Jm_rU jo _| H$mamo~ma go m r{_`_
Omar nm{b{g`m| H$s g`m (Jm_rU jo )
gm_m{OH$ jo _| H$mamo~ma go m r{_`_
gm_m{OH$ jo _| Amd[aV `pV`m| H$s g`m
Jm_rU Ama gm_m{OH$ jo _| d{
Jm_rU jo
gm_m{OH$ jo
20
r{_`_ 15.31%
Amd[aV `pV`m| H$m {VeV 45.65%
2010-11
2009-10
6,376.66
5,239.05
878.78
762.09
49,95,171
47,45,713
325.66
262.65
1,62,99,413
1,11,90,930
During the year, the Company procured a premium of A 893 lakhs and covered 2,05,722 BPL families under the
Universal Health Insurance Scheme as against 1,91,903 families during 2009-10. This reflects the Company's
abiding commitment to implement the objectives of the Scheme.
Major UHIS scheme includes the SHGs members of Sri Kshetra Dharmasthala Rural Development project of the
State of Karnataka by covering 88795 families and Vazhndu Kattuvom (Community based Health Insurance Project
for BPL women in Tamil Nadu) by covering 27175 families. The Company also covers BPL population through other
policies issued to NGOs, SHGs and Rural Co-operative Banks.
The Company continued to handle Tsunami Jan Bima Yojana Scheme of Govt. of India for Tsunami affected families
in 9 Districts of Andhra Pradesh (65339 families) and 2 Districts of Puducherry (10979 families) for the third year of
the Scheme.
RASHTRIYA SWASTHYA BIMA YOJANA (RSBY)
The Company continues to implement RSBY since inception and has expanded its coverage to 56 Districts of 6 States
during 2010-11. The Company has covered 38,08,151 families consisting of 1,32,82,256 lives, under RSBY.
CORPORATE SOCIAL RESPONSIBILITY INITIATIVES
MICRO INSURANCE
Micro Insurance is a valuable tool to reduce the vulnerability of the poor and protect them against specific risks.
Hence, the Company has opened Micro Insurance Cells to give focused attention on Micro Insurance products.
The Company has opened 5 Micro Insurance Cells in Chennai, Madurai, Hyderabad, Jaipur and Pune ROs. Similar
cells will be opened in all Regional Offices in due course.
The Company procured a premium of A 308 Crores under Micro Insurance for the year 2010-11 as against
A 158.42 crores in the previous year recording a growth rate of 94.41%.
The share of Rural and Social Sector premium in the gross premium written by the Company is as under:
(A in crores)
Particulars
Total gross premium underwritten
Rural Sector Premium
No. of Policies underwritten (rural sector)
Social Sector Premium
No. of lives covered in social sector
GROWTH IN RURAL AND SOCIAL SECTOR
Rural Sector - Premium
Social Sector - No. of lives
15.31%
45.65%
2010-11
2009-10
6,376.66
5,239.05
878.78
762.09
49,95,171
47,45,713
325.66
262.65
1,62,99,413
1,11,90,930
The Company is committed to Corporate Social Responsibility (CSR) and has adopted Bairamangalam Village
in Tamil Nadu. The project envisages development of health, hygiene and education amongst the Rural
underprivileged.
21
A`
H$nZr Zo gm_m{OH$ jo _| 1,62,99,413 `pV`m| H$mo gwajm XmZ H$s Omo JV df _| 1,11,90,930 Wm & d{ Xa 45.65% Wr & df 2010-11
_| Jm_rU jo _| r{_`_ d{ 15.31% Wr Ama A 878.78 H$amoS> hm{gb H$s & `h gH$b Kaoby r{_`_ _| 13.78% H$m Ae ~ZVm h & `wZmBQ>oS>
B{S>`m B`yaog Zo {ZYZ aoIm g_wXm` H$mo gwajm XmZ H$aZo H$s pQ> go {deof Ama Q>ba _oS> ~r_m nm{bgr V`ma H$s Ama Ho$ab _| {H$gmZ lr ~r_m Ho$
VhV 5,20,423 gr_mVa {H$gmZm| H$mo, Cgr am` _| 3 bmI _Nw>Am Ama g~ _OXam|, gwajm ~r_m `moOZm Ho$ VhV gwajm XmZ H$s & `wZmBQ>oS> B{S>`m
B`yaog amQ>r` newYZ ~r_m H$m`H$_ _| _hdnyU AJ {Z^mVr h &
df Ho$ XmamZ d{VV ZB `moOZm`| / CnmXZ
H$nZr Zo ''H$_H$ma {M{H$gm nm{bgr'' Ho$ VhV EH$ {deof dm` ~r_m nm{bgr H$m dVZ {H$`m h & `h nm{bgr amoOJma Ho$ g_` XKQ>Zm go Cn
hmoZodmbo AnVmbrZ IM H$mo Amd[aV H$aVr h & `h H$_H$ma {VH$ma nm{bgr Ho$ nyaH$ h Ed H$maImZm _m{bH$m|/R>oHo$Xmam| A` dm{Up`H$ Ho$ {bE
bm^Xm`H$ hmoJm & My{H$ do H$_Mm[a`m| H$mo amoOJma Ho$ g_` XKQ>Zm go Cn hmoZodmbo IM H$s g_mYmZ Ho$ {bE gr{_V dm` nm{bgr H$s ImoO _o Wo &
`h nm{bgr _mM 2011 H$mo ew {H$`m J`m Wm &
H$nZr Zo Ama EH$ dm` ~r_m nm{bgr ''J^ra ~r_mar nm{bgr'' H$s V`mar H$s h & df Ho$ XmamZ m{YH$aU Ho$ gmW Xmà H$s h Ama AZw_moXZ Ho$ ~mX
e {H$`m OmEJm &
JmhH$ godm
gJR>Z H$s CH$R> Um{b`m| Ho$ H$_ _| h_mar JmhH$ godm Z`m Am`_ Wm{nV h Ama AmB.Ama.S>r.E. mam {eH$m`V {ZdmaU Umbr Ho$ {df` na
28.7.2010 H$mo Omar _mJXeZ H$m AZwnmbZ hmo ahm h & AmB.Ama.S>r.E. mam {ZYm[aV n{H `m g_`(Q>r E Q>r) H$mo `mZ _| aIVo hE {d^mJ {eH$m`Vm|
H$m {ZnQ>mZ H$aVm h & AmB.Ama.S>r.E., S>r nr Or / _mb`, YmZ _r H$m`mb` Ho$ gmW gmW B _ob / nmMma d AmZ bmBZ {eH$m`V nmoQ>b Ho$ _m`_
go m {eH$m`Vm| H$m {ZnQ>mZ d[aV H$aVm h & h_mao AmV[aH$ gyMZm mmo{JH$s {d^mJ mam V`ma AmZ bmBZ {eH$m`V nmoQ>b H$m {Z_mU df
2010-11 _| {H$`m J`m & JmhH$ AnZr {eH$m`Vm| H$mo XO H$a gH$Vo h Ama AVZ pW{V ^r nVm H$a gH$Vo h,
df 2010-11 Ho$ XmamZ H$nZr Ama AmB.Ama.S>r.E. Ho$ {eH$m`V H$mb g|Q>a mam nXm {H$ò Jò OmJ$H$Vm Ho$ n[aUm_d$n {eH$m`Vm| H$s g`m ~T>
J`r h & emIm H$m`mb` / _S>b H$m`mb` / jor` H$m`mb` / YmZ H$m`mb` Ho$ Va na bJmVma g_rjm Ama g_yh g_rjm Ho$ _m`_ go {eH$m`Vm|
H$s g_rjm Ama {ZnQ>mZ Ho$ {bE H$B `moOZm`| ~Zm`r J`r h &
JmhH$ godm Ho$ Va _| d{ bmZo Ho$ {bE ^maVr` JmhH$ gWm Ho$ g`moOZ _| \$Q>boZ A{YH$m[a`m| (_S>b d emIm H$m`mb`m|) Ho$ {bE "JmhH$
godm _| CH$R>Vm ' H$m {ejU {X`m J`m Ama Bg `moOZm H$s egm H$s J`r &
df 2010-11 _| {eH$m`V {d^mJ H$m {ZnmXZ {ZZmZwgma h
{eH$m`V| m
AmB Ama S>r E
gmdO{ZH$ {eH$m`V {ZXoemb` (CPGRAMS)
_mb`
`j
VVr` nj ~YH$ (Q>r nr E) go g~{YV
B-_ob
Hw$b
22
1.4.2010
31.3.2011 H$s
g_m{ na eof
H$mo eof
df Ho$ XmamZ
m {eH$m`V|
df Ho$ XmamZ
{Zn{Q>V
839
800
43
66
62
65
60
36
496
443
89
120
115
29
740
722
47
71
2326
2202
195
OTHERS:
The Company covered 1,62,99,413 lives in social sector as against 1,11,90,930 in the previous year, achieving a
growth rate of 45.65%. The rural sector premium saw a growth of 15.31% when it completed A 878.78 Crores in the
year 2010-11. This represented 13.78% of the Gross domestic premium. The Company continued its expertise in
designing and delivering tailor made insurance covers to the poor sections as it covered 5,20,423 marginal
farmers under Kisan Sree Insurance in Kerala, 3 lakh fishermen and allied workers in the same State. The Company
continued to be a major player in National Livestock Insurance Programme.
NEW SCHEMES/PRODUCTS INTRODUCED DURING THE YEAR
The Company has designed a specialised Health Insurance Policy under the name Workmen Medicare Policy
to cover hospitalisation expenses arising out of accidents during and in the course of employment. It would
complement the Workmen Compensation policy and would be beneficial to factory owners/contractors/other
commercial establishments looking for limited Medical cover for workers/employees to address expenses arising out
of accidents in the course of employment. The Policy was launched in March 2011.
The Company has designed one more Health Insurance Policy under the name Critical Illness Policy and filed with
the Authority during the year which will be launched after due approval from the Regulator.
The Customer Care Department is benchmarked against the best practices in the Industry and is in compliance with
the Guidelines dated 28.07.2010 issued by IRDA on Grievance Redressal Mechanism. The department is resolving
grievances keeping in view the Turn Around Time (TAT) stipulated by IRDA. The Company is speedily addressing all
complaints routed through IRDA, DPG / MINISTRY/PMO and received directly from the Customers by
e-mails/letters and also through the Online Grievance Portal. The Online Grievance Portal was developed by our
in-house IT Department and was commissioned during the year 2010-11, where the customers can post their
complaints and track the status of their complaints on real time basis.
During the year, there has been a steep increase in inflow of grievances, owing to the awareness created by the
Company and through IGCC-The Grievance Call Centre of IRDA. Many initiatives have been taken to monitor and
redress the grievances at BO/DO/RO/HO levels through continuous review exercises including peer review.
As an initiative to improve the standards of Customer Service, training on Excellence in Customer Service for
frontline officers (in Divisional and Branch Offices) was launched during the year in association with Consumer
Association of India and this has been well received.
The performance of the department for the year 2010-11 is as below: Grievances received From
Opening Balance
as on 01-04-2010
Received during
the year
Disposed off
during the year
Closing Balance
as on 31-03-2011
IRDA
839
800
43
DPG (CPGRAMS)
66
62
Ministry
65
60
36
496
443
89
120
115
E-Mail
29
740
722
47
Total
71
2326
2202
195
Direct
TPA Related
CUSTOMER CARE SERVICES
23
{ZnQ>mZ {VeV
:
92%
Bg df d{VV AmZbmBZ {eH$m`V nmoQ>b Ho$ _m`_ go {ZnQ>mZ {eH$m`Vm| H$m {ddaU
df Ho$ XmamZ gy{MV g`m
:
1215
df Ho$ XmamZ {ZnQ>mZ g`m
:
901
Xmdm ~YZ
Xmdm {ZnQ>mZ AZwnmV df 2010-11 _| 83.03% h Omo JV df 2009-10 _| 78.83% Wm & H$nZr Xmdm {ZnQ>mZ _| hE CV {ZnmXZ H$mo _wI
mW{_H$Vm jo _mZVr h & h_| {ddmg h {H$ AJbo df _| Ama J{V hmoJr &
Xmdm| Ho$ {ZnQ>mZ H$m {ddam
2010-11 Ho$
2010-11 Ho$
31.3.2011
XmamZ gy{MV
XmamZ {ZnQ>mZ
H$mo eof Xmdm|
Xmdm| H$s g`m Xmdm| H$s g`m
1.4.2010 H$mo
eof Xmdm| H$s

g`m
`m{MH$m
Ja-`m{MH$m
Hw$b
Xmdm| H$m {ZnQ>mZ Xmdm| H$m {ZnQ>mZ

AZwnmV
AZwnmV
(2010-11)
(2009-10)
203902
111992
115880
200014
36.68%
35.27%
58528
1240946
1225426
74048
94.30%
93.67%
262430
1352938
1341306
274062
83.03%
78.82%
eof Xmdm| Ho$ dfdma {dbofU

`m{MH$m
Ja-`m{MH$m
Hw$b
6 _hrZo go H$_
6 _hrZo go A{YH$
b{~V
14737
185277
42197
31851
56934
217128
Hw$b
200014
74048
274062
{dXoer gMmbZ
1.4.2002 go H$nZr Zo hmJH$mJ _| ~r_m H$mamo~ma H$m MmbZ ~X H$a {X`m h
31.3.2011 H$mo ~H$mò Xmdm| H$s g`m 5 h Omo JV df H$s g_m{ na 7Wr &
& H$nZr H$m A{V_ H$mamo~ma `y B{S>`m E`yaog H$nZr g^mb ahr h &
31.03.2011 H$mo g_m hE df Ho$ {bE hmJH$mJ A{^H$aU Ho$ A{V_ MmbZ H$m {ddaU
($nò H$amoS>m| _| )
{ddam
ApZ
{d{dY
Hw$b
0
(0)
0
(0)
0
(0)
0
(0)
-1.32
(-8.32)
0
(0)
~r_m boIZ bm^ / hm{Z
{Zdoe Am`
ew bm^
0
(0)
-1.32
(-8.32)
0.20
(0.23)
0
(0)
1.12
( 8.09)
0.19
(0.22)
1.31
(8.31)
ew r{_`_
CnJV Xmdo
~YZ IM
A` Am` Ama ``
ZmoQ> H$moR>H$ _| JV df Ho$ AmH$S>| {Xò Jò h &

24
PERCENTAGE OF DISPOSAL :
92%
Grievances disposed off through Online Grievence Portal launched this year :
Reported during the year
:
1215
Disposed of during the year
:
901
CLAIMS MANAGEMENT :
The overall claims settlement ratio has increased to 83.03% in 2010-11 from 78.83% in 2009-10. Improved
performance in claims settlement has been identified as a high priority area within the Company and the Company
has been consistently improving in this area and confident of even better numbers next year.
STATUS OF CLAIMS SETTLEMENT
No of O/s Claims No. of Claims No of claims
No of claims
Claims
Claims
as on
Intimated
settled during
outstanding
Settlement
Settlement
01-04-2010
during 2010-11 2010-11
as on 31.03.2011 Ratio 2010-11 Ratio 2009-10
Suit
203902
111992
115880
200014
36.68%
35.27%
Non Suit
58528
1240946
1225426
74048
94.30%
93.67%
Total
262430
1352938
1341306
274062
83.03%
78.82%
Pending for
Less than 6 months
Suit
14737
Non-suit
42197
Total
56934
More than 6 months

Total
185277
200014
31851
74048
217128
274062
FOREIGN OPERATIONS
Underwriting operations at Hong Kong ceased with effect from 1.4.2002 and New India Assurance Company
Limited, Hong Kong, looks after the Run Off portfolio since then. As at 31.3.2011, 5 claims were outstanding
as against 7 claims as at the end of previous year.
Statement of run off operations in Hong Kong Agency for the year ended 31.3.2011 :
(Rs. in crores)
Details
Fire
0
(0)
0
(0)
0
(0)
Miscellaneous
0
(0)
-1.32
(-8.32)
0
(0)
Underwriting Profit / Loss
Investment income
Net Profit/Loss
Net Premium
Incurred Claims
Expenses of Management
Other Income & Outgo
Note : Previous year's figures have been shown in brackets.
Total
0
(0)
-1.32
(-8.32)
0.20
(0.23)
0
(0)
1.12
( 8.09)
0.19
(0.22)
1.31
(8.31)
AGE-WISE ANALYSIS OF PENDING CLAIMS
25
{dXoer _wm CnmOZ / bmJV H$m {ddaU

i) {dXomr _wm CnmOZ
ii) {dXomr _wm bmJV
-
A 212.66
A 190.93
H$amoS>
H$amoS>
Mma-gma
dV_mZ {VnYm_H$ dmVmdaU _| EH$ AmH$m_H$ Mma-gma `moOZm H$s Amd`H$Vm h {Oggo h_mar H$nZr H$s N>{d ~ZmE aIZo VWm {ZaVa `Vm
gw{ZpMV H$a gH$Vo h & H$nZr Ho$ {bE {ZJ{_V N>{d Wm{nV H$aZm hr Zht ~pH$ OZVm Ho$ _Z _| H$nZr Ho$ CnmXm| H$mo Iy~ gWm{nV H$aZo _| ^r
`mZ {X`m J`m h &
Mma-gma {d^mJ Ho$ CXXo` Wo
A)
H$nZr H$s N>{d H$mo _O~yV H$aZo hoVw ^maV _| H$nZr H$mo g~go ngXrXma Ja OrdZ ~r_mH$Vm H$nZr Ho$ $n _| {VpR>V H$aVo hE
H$mnm}aoQ> {dOZ H$mo gmH$ma H$aZm &
Am)
H$nZr Ho$ CnmXm| na H$me S>mbVo hE Ama g\$bVm go CH$Q>Vm VH$ nhM H$s `mm Ho$ gmW ~ohVa JmhH$ godm, ~mOma eoà _| d{ H$s
gVV ImoO _| h &
B)
ZE jom| _| h_mar nhM H$mo {dVm[aV H$aZo hoVw VWm ZE JmhH$m| H$mo EH${V H$aZo Ho$ {bE OZVm H$mo ~r_m gwajm H$s j_Vm Ho$ ~mao _|
OmZH$mar XoZm &
BZ CXXo`m| H$mo nyam H$aZo hoVw Xoe â _| og, Q>obr{dOZ, ao{S>`mo, AmZbmBZ, hmo{S>J, ~oZa, KQ>ZmE, ~g, _oQ>mo aob Q>oeZ, _w` hdmB AS>S>m| na {dkmnZ
{X`m J`m &
df â {ZJ__r` `Vm H$mo ~Zmò aIZo hoVw Iob Ho$ ^yVnyd _wIm| mam _w` n{H$mAm| Ho$ qg{S>H$o Q> H$mb _| {b{IV _w`mem| H$mo gmCW Am[\ H m _| \$s\ m
\w$Q>~mb dmS> H$n, {O~m~do _| hB {H$moUr` lIbm {H$Ho$Q> VWm H$m_ZdoW Iobm| Ho$ XmamZ X{eV {H$`m J`m & ^maV _| {H$Ho$Q> {dd H$n H$m bm^
CR>mVo hE _wI g_mMma nm| Ho$ Iob nR> _| ^mdr {dkmnZ mam dm` CnmXm| H$m A{^`mZ {H$`m J`m & BgHo$ Abmdm _w` n{H$mAm| VWm AmV[aH$
CS>mZ n{H$mAm| _| ^r dm` A{^`mZ {H$`m J`m &
{d^mJ mam YmZ H$m`mb` Ho$ A` {d^mJm| H$mo ^r gh`moJ XmZ {H$`m J`m & {d^mJ mam H$mbS>a VWm S>màr ^r _w{V {H$`m J`m &
`h h_mao {bE nwaH ma VWm `m{V H$m _mg_ ahm VWm A~mam| _| {dkmnZ, g_` na nH$m[aVm mam Am_ OZVm H$mo h_mar CnbpY`m ~VmZo _| {d^mJ
Zo _hdnyU ^y{_H$m {Z^m`r h {Oggo h_mar H$nZr H$s N>{d ~T r &
{nN>bo gmV dfm] go h_mar H$nZr Eàgob Mo AmonZ Q>o{g nVr`mo{JVm Omo gmCW E{e`m H$m EH$ _m AVamQ>r` E.Q>r.nr. Q>o{g nVr`mo{JVm h, Ho$
b{Q>Z_ m`moOH$ h &
gyMZm (m H$aZo H$m) A{YH$ma A{Y{Z`_
15.06.2005 H$mo gyMZm (m H$aZo H$m) A{YH$ma A{Y{Z`_ Omar {H$`m J`m VWm 12.10.2005 go ^mdr hAm &
Bg A{Y{Z`_ Ho$ mam g^r

ZmJ[aH$m| H$mo OZVm m{YH$mam| H$s J{V{d{Y`m| Ho$ ~mao _| gyMZm (m H$aZo H$m) A{YH$ma h Vm{H$ m{YH$ma Ho$ gMmbZ _| nQ>Vm gw{ZpMV H$aVo hE
gy{MV ZmJ[aH$ V`ma H$a gH$Vo h &
{ZJ{_V H$m`mb` _| gyMZm m H$aZo H$m A{YH$ma H$j H$m _wI Ho$Xr` gyMZm A{YH$mar h VWm g^r mXo{eH$ H$m`mb`m| _| OZVm gyMZm A{YH$mar h &
Bg_| Anrbr` m{YH$mar _hm ~YH$ Ho$ gdJ _| h & _S>b VWm emIm ~YH$ g~{YV H$m`mb`m| Ho$ Ho$r` gyMZm A{YH$mar h &
emIm / _S>b H$m`mb` Ho$ Ho$Xr` gyMZm A{YH$mar AmdoXZ m H$aZo na nmdVr ôOH$a Cgo g~{YV mXo{eH$ H$m`mb`m| H$mo AJo{fV H$aVo h &
EH$$nVm gw{ZpMV H$aZo H$s pQ> go mXo{eH$ H$m`mb`m| _| Zm{_V Ho$Xr` gyMZm A{YH$mar AmdoXZ H$m CVa XoVo h &
Bg {df` na OmJ$H$Vm ~T>Zo go AmdoXZ H$s g`m hr Zht ~pH$ W_ Anrb d {Vr` Anrb ^r ~T> J`r h & My{H$ W_ Anrb Anrbr` A{YH$mar
mam {ZVm[aV {H$`m OmVm h VWm {Vr` Anrb H$mo Ho$Xr` gyMZm g{_{V mam gwZdmB H$a CZHo$ mam Omar AmXoem| H$mo OZVm m{YH$ma mam gH${bV
{H$`m OmVm h &
mXo{eH$ H$m`mb`m| Zo _S>b/emIm Ho$ A{YH$m[a`m| H$mo gwJ{hV H$aZo H$s pQ> go N> H$mèmbm`| {d{^ WmZm| _| Am`mo{OV H$s & YmZ
H$m`mb`, {ejU Ho$ Zo `j ^{V`m| hoVw AnZo {ejU H$m`H$_ _| gyMZm (m H$aZo H$m) A{YH$ma H$m g gp_{bV {H$`m h &
26
DETAILS OF FOREIGN EXCHANGE EARNINGS & OUTGO

i) Foreign Exchange earnings
ii) Foreign Exchange outgo
A 212.66 Crores
A 190.93 Crores
PUBLICITY
In the current competitive scenario an aggressive publicity plan is required to ensure continued visibility and
to sustain the brand image of the Company. The focus is not only to establish a Corporate image for the Company,
but also to ensure that the products of the Company become well entrenched in the minds of the public.
The objectives of the Publicity and Communications department are:
a) realising the Corporate Vision of making the Company the most preferred Non-life insurer in India by
reinforcing its brand image of the Company;
b) highlighting the Company's products and reach, in tune with the Company's journey from success to
excellence and in the relentless pursuit of improved customer service, growth in market share;
c) enlightening the masses about the efficacy of insurance protection in order to expand the Company's spread
to new areas and bring into its fold new customers.
To ensure that a very high corporate visibility is sustained throughout the year, sponsorship of syndicated column in
major dailies written by former legends of the games were taken up during the FIFA Football World Cup in South
Africa, Tri series cricket held in Zimbabwe and the Commonwealth Games held in New Delhi. Taking advantage of
the Cricket World Cup in India, a campaign was run aggressively to promote health products by having slug
advertisements appearing in the sports page of major newspapers. Besides, most of leading general and in-flight
magazines were also part of the health insurance publicity campaign. Calendars and Diaries were printed and
distributed among star agents as part of the Unisurge initiatives.
It has been a season of awards and honours for the Company and Press releases were issued on time to inform the
general public about our achievements, which enhanced the image of the Company.
For the seventh year in succession the Company was one of the Platinum Sponsors of the Aircel Chennai Open Tennis
Tournament, which is the only International ATP Tennis Tournament in South Asia.
RIGHT TO INFORMATION ACT
The Right to Information Act was passed on 15.06.2005 and came into force on 12.10.2005. The Act confers the
right on the citizens to seek information from all public authorities on all their activities, with a view to ensuring
transparency in the functioning of the Authority and to have an informed citizenry.
The Right to Information Department is headed by the Central Public Information Officer at the Corporate Office and
designated Public Information Officers at all the Regional Offices. The designated Appellate Authority is in the cadre
of General Manager. The Divisional and Branch Managers are the ex-officio CPIOs of their respective offices.
The CPIOs at the Branch/Divisions are expected to receive the applications, issue receipts and forward the
application to the respective regional offices. The designated CPIOs at the Regional Offices reply to the applications
with a view to ensure uniformity.
With increase in awareness not only has the number of applications increased but also the instances of first and
second appeals have also risen. While the Appellate Authority disposes off the first appeals, second appeals are heard
by CIC and the orders passed by them are complied with by the Public Authority.
With a view to sensitise all employees of the the Company, six workshops have been conducted at various places for
officials from the Division/Branch of the respective Regional Offices. Learning Centre has also introduced a session
on RTI in its training programme conducted for direct recruits.
To fulfil these objectives, advertisements through Press, television, radio, online, hoardings, banners, events,
on buses, in Metro rail stations, major airports, etc. were taken up across the country.
27
dm 2010-11 H$m {ZnmXZ

AmdoXZ/Anrbm| H$s m{ Ho$ 30 {XZ Ho$ AXa {ZnQ>mZ H$aZm h & 01.04.2010 go 31.03.2011 VH$ m AmdoXZ/Anrbm| H$s m{ Ama {ZnQ>mZ
H$m {ddaU {ZZ{b{IV h &
AmdoXZ
m AmdoXZm| H$s g`m
{Zn{Q>V AmdoXZm| H$s g`m
b{~V
{ZnQ>mZ Xa
1467
1408
94
93.74%
Anrb
m Anrbm| H$s g`m
{Zn{Q>V Anrbm| H$s g`m
b{~V
{Zn{Q>V Xa
264
263
1
99.24%
YZ emoYZ {ZdmaU
YZ emoYZ {ZdmaZ / AmVH$dmX {dV nmofU {ZamoYZ (E E_ Eb /gr E\$ Q>r ) Ho$ {H$`md`Z hoVw AmB.Ama.S>r.E. mam ~r_mH$VmAm| hoVw Omar {Xem
{ZXoe 01-07-2005 go ^mdr YZ emoYZ {ZdmaU A{Y{Z`_ (nr E_ Ec E) 2002 ~r_m H$n{Z`m| na 01-08-2006 go bmJy hAm & V~ go
AmB.Ama.S>r.E. g_`-g_` na YZ emoYZ {ZdmaU g~Yr {Xem{ZX}e Omar H$aVm ahm h {Oh| h_mao H$nZr ~moS> mam {Z`{_V $n go AnZmò OmVo hE
{H$`md`Z hoVw h_mao jor` H$m`mb`m| H$mo {Z`{_V $n go n[aMm{bV {H$`m Om ahm h &
E E_ Eb / gr E\$ Q>r {Xem{ZX}em| na AmB.Ama.S>r.E. H$s Amoa go ApV_ {ZX}e AmB.Ama.S>r.E. n[an g. AmB Ama S>r E / E\$ ES> AmB / gr AmB Ama /
E E_ Eb /158/09/2010 {XZm{H$V 24 {gV~a 2010 mam m hE & Bg _mQ>a n[an _| Bg {df` na AmB.Ama.S>r.E. mam 31 OwbmB 2010
VH$ Omar g_V {Xem{ZXoem| H$m g_mdoe h & Eogo 24-01-2011 H$mo gn ~moS> H$s ~R>H$ _| VwV {H$`m J`m Ed {H$`md`Z hoVw g_V jor`
H$m`mb`m| H$mo n[aMm{bV {H$`m J`m &
Bg {Xem{ZX}e Ho$ {H$`md`Z Ho$ `moOZ go H nZr Zo AnZr gyMZm VH$ZrH$ Umbr (AmB Q>r {gQ>_ ) _| mdYmZ {H$ò h {H$ ~r_mYmaH$ {ZYm[aV
r{_`_ H$s ZH$X $n _| m{ H$mo ^mdr T>J go {V~pYV H$aVo h & Bgr Vah "AnZo JmhH$ H$mo nhMmZmo' (KYC) mdYmZm| Ho$ AZwnmbZ H$mo A{Zdm`
~Vm`m J`m h & g^r {df`m| go g~{YV bmoJm| VH$ gXoe H$mo ^mdr T>J go nhMmZo Ed Ch| {e{jV H$aZo hoVw n[anm|, nm|, _obm|, {ejUm| Ed jor`
H$m`mb`m| Ho$ Xmam| Ho$ _m`_ go g_`-g_` na Cnm` {H$ò Om aho h & E E_ Eb / gr E\$ Q>r Ho$ {Xem{ZX}em| na {ejU Bg g_` h_mao H$manmoaoQ>
{ejU Ho$ mam gMm{bV g^r H$m`H$_m| H$m EH$ {Z`{_V AJ h &
gyMZm mmo{JH$s
h[aV D$Om g_{WV gyMZm VH$ZrH$ Ho$ {H$`md`Z hoVw gXd gOJ H$nZr Zo S>oQ>m goQ>a na ^m{VH$ gdam| H$s g`m _| H$_r bmZo dmbo VWm ~ohVa ~YZ
j_Vm `wV "gda dMwAbmBOoeZ' Zm_H$ EH$ _hdmH$mjr n[a`moOZm H$m dVZ {H$`m h & `h gda dMwAbmBOoeZ gaMZm _mJ AmYm[aV A{V[aV
gda A{^j_VmAm| Ho$ {Z~mY mdYmZrH$aU H$s gm\$Q>doà gw{dYm XmZ H$aVr h & `h VH$ZrH$ H$nZr H$s "CH$Q>Vm - `mm' H$s XV J{V go
H$X_-Vmb H$aVo hE JmhH$ Ho$pV A{^`mZm| Ho$ {H$`md`Z _| XjVm XmZ H$aVr h & dV_mZ _| ò gda H$nZr Ho$ A` AZw`moJm| Ho$ Abmdm _moQ>a
S>rba nmoQ>b, g{dg h~ AZw`moJm|, H$Q>_a nmoQ>bm| H$mo godm CnbY H$am aho h & `dgm` {ZaVaVm n[a`moOZm Ho$ AJ Ho$ $n _| gda dMwAbmBOoeZ
H$mo "AmnXm {ZdmaU gmBQ>' _| ^r d{VV {H$`m J`m h &
H$nZr Zo gyMZm gajm ~YZ Umbr (AmB.Eg.E_.Eg) H$mo ^r AnZm`m h Omo{H$ _ogg Eg.Q>r.`y.gr {b{_Q>oS> Zm_H$ noeoda ~YZ Ho$ VhV `mnH$
$n go AmB.Eg.Amo. 27001 _mZH$m| Ho$ AZw$n h &
do~ AmYm[aV H$da ZmoQ> nmoQ>b Ho$ _m`_ go h_mao _`Wm| Zo A12.5 H$amoS> r{_`_ g{hV 116553 H$da ZmoQ> Omar {H$ò h & H$nZr Zo AnZo
24 X 7 H$Q>_a nmoQ>b Ho$ _m`_ go AmodagrO _o{S>bo_ nm{b{g`m nmZo hoVw JmhH$m| H$mo geV {H$`m h &
28
PERFORMANCE FOR THE YEAR 2010-11

Applications/appeals are to be disposed off within thirty days from the date of receipt of the same. Given below
are the details of applications/appeals received and disposed from 01.04.2010 to 31.03.2011.
Applications
Number of applications received
Number of applications disposed
Number pending
Disposal rate
1467
1408
94
93.74%
Appeals
Number of appeals received
Number of appeals disposed
Number pending
Disposal rate
264
263
1
99.24%
ANTI-MONEY LAUNDERING INITIATIVES
The Prevention of Money-Laundering Act (PMLA), 2002, brought into force w.e.f. 01.07.2005 has been made
applicable to Insurance Companies w.e.f. 01.08.2006. Since then IRDA have been issuing AML Guidelines from
time to time which have been regularly adopted by the Board of the Company and the same have been circulated to
our Regional Offices for implementation.
The last advice on AML/CFT Guidelines from IRDA was received vide IRDA Circular No.IRDA/F&I/CIR/AML/
158/09/2010 dated 24th September 2010. This is a master Circular on the subject containing all guidelines issued by
IRDA upto 31st July, 2010. This was placed before the Board in the Meeting held on 24.01.2011 and was circulated
among our Regional Offices for implementation.
With a view to implementing these guidelines, the Company has made provisions in our IT Systems which effectively
bar receipt of premium in cash from an insured in excess of the prescribed limits and ensures compliance with Know
Your Customer (KYC) provisions compulsorily. Periodical measures through circulars, letters, mails, trainings and
visits to Regional Offices are taken to reinforce the message and educate all concerned on the subject. Training on
AML / CFT Guidelines is a regular feature now in the programmes conducted by the Corporate Training Centre.
INFORMATION TECHNOLOGY
Ever conscious of green energy compliant IT implementation, the Company embarked on an ambititious project of
Server Virtualization at the Data Center, leading to a reduction in the number of physical servers and better
management features. The Server Virtualization software configuration facilitates seamless provisioning of
additional server capacities on demand. The technology lends agility in the implementation of customer centric
initiatives in keeping with the rapid strides made by the Company in its journey etched in excellence.
Currently these servers are hosting the Motor dealer portal, Service hub applications, customer portals besides other
applications used within the Company. Server Virtualisation has been implemented in the Disaster Recovery Site
also as part of the Business Continuity Plan.
The Company has adopted an Information Security Management System (ISMS) Policy , which is largely compliant
with ISO 27001 norms, under the professional stewardship of M/s. STQC Ltd.
Through web based cover note portal, our intermediaries have issued 116553 cover notes to the tune of
A 12.5 Crores premium. The Company has empowered the customers to avail of its Overseas Mediclaim Policies
through its 24X7 Customer Portal.
Implementation of Anti-Money Laundering / Counter-Financing of Terrorism (AML/CFT) Guidelines for Insurers

issued by IRDA
29
XaW _mBH$mo H$m`mb`m| _| "H$moa' Umbr Ho$ {H$`md`Z H$s V`mar _| H$nZr Zo AnZo ZoQ>dH$ g`moOZ H$mo A{VIMubr dr nr EZ Amo ~r ~r (dMwAb
mBdoQ> ZoQ>dH$ Amoda ~mS>~S>) VH$ZrH$ AnZmVo hE {dVm[aV {H$`m h &
H$nZr gn \$sH$mo (\$mBZ{e`b) ~r 2 ~r Ed A` JmhH$ godm-dYH$ _mS>`wbm| Ho$ g\$b g_mdoe Ho$ gmW H$moa ~r_m Umbr H$mo gd H$m`mpdV H$aZo
Ho$ nW na AJga ahr h & "_moQ>a Eb Amo ~r ' 317 H$m`mb`m| _| d{VV hmo MwH$m h & jor` H$m`mb`m| _| {Z~mY Xmdm {ZVmaU _| ghm`H$ "H$Q>_a g{dg
h~' ~Zmò Jò h & 23 _`W _moQ>a S>rbam| H$mo 24 X 7 ~r_m nm{b{g`m| Ho$ {ZJ_ hoVw "H$moa Umbr ' CnbY H$am`r J`r h &
H$nZr Zo g\$bVmnydH$ H m AnZr A_y` ggmYZ Ogo gmn EM gr E_ na _mZd nyOr, Omo EH$ H$moa H$gm{Q>`_ h, H m S>mQ>m~og V`ma {H$`m h & g^r
mXo{eH$ H$m`mb`m| _| H$m{_H$ emgZ VWm gJR>Zm_H$ ~YZ (nr E VWm Amo E_) _mS>`yg CnbY h & A` EM gr E_ _mS>`yg H$o H$m`md`ZH r
V`mar hmo ahr h &
_mZd ggmYZ {dH$mg d H$m{_H$
A) gJR>Zm_H$ ZoQ>dH$
31.3.2011 H$mo H nZr Ho$ 1450 H$m`mb` h
{ddaU
mXo{eH$ H$m`mb`
bmO H$mnm}aoQ d ~moH$a > H$m
_S>b H$m`mb`
emIm H$m`mb` d _mBH mo H$m`mb`
Hw$b
g`m
26
7
384
1019
1,436
Am) H$m` {ZnmXZ ~YZ Umbr (nr E_ Eg)

df Ho$ XmamZ H$nZr Zo EM Ama BZo{eEQ>{Q>g Ho$ $n _| {ZnmXZ ~YZ Umbr (nr E_ Eg) H$m` H$mo g\$bVmnydH$ ew$ {H$`m, [OgH$m _w` CXXo`
H$nZr Ho$ {dOZ, CXXo`m|, H$m` Umbr _o _mZd ggmYZ H$m ~ohVa `moJ H$aZm h & H$m` {ZnmXZ ~YZ Umbr Ho$ EH$ ^mJ Ho$ $n _| H$s [aOQ>
E[a`m g^r Eb.gr.~r., jor` H$m`mb`m|, MmbZ H$m`mb`m| Ho$ gmW-gmW YmZ H$m`mb` Ho$ g^r {d^mJm|, YmZ H$m`mb`m| Ho$ Cn _hm ~YH$ VWm
_hm ~YH$m| H$m A{V_ $n {X`m Om MwH$m h & df Ho$ XmamZ g^r MmbZ H$m`mb`m|, mXo{eH$ H$m`mb`m|, Eb.gr.~r. Ama YmZ H$m`mb` Ho$ d{Q>H$b
{d^mJm| Ho$ H$s [aOQ> E[a`m H$m` {ZnmXZ _y`mH$Z H$m H$m` nyam H$a MwH$m h {OgHo$ AmYma na CV df Ho$ Jwn/`pVJV H$m` {ZnmXZ g{hV
mogmhZ Ho$ {dOoVmAm| H$m V` {H$`m J`m h & nr.E_.Eg. Ho$ H$m`md`Z Ho$ {Vr` df _| `h nm`m J`m {H$ H$nZr _| Ho$.Ama.E. H rAN>r Vah ^br ^m{V
h VWm H$nZr Ho$ ~ohVarZ H$m` {ZnmXZ_ _| {d{eQ> `moJXmZ {X`m h &
`h Ano{jV h {H$ H$s [aOQ> E[a`m VWm nr.Eb.AmB. `moOZm H$nZr Ho$ H$m`mb`m| Ho$ ~rM _| dW {VnYm H$mo ~T>mòJr {Oggo H$nZr Ho$ CXXo`m| H$mo
JwUm__H$ T>J go dV_mZ n[a` _| CH$Q>Vm go H$m` {ZnmXZ {H$`m Om gH|$ &
B) _mZd nyOr ~YZ (EM.gr.E_.)
2 \$adar 2011 H$mo H$nZr Zo gmn h`y_Z H${nQ>b _ZoO_oQ> Zm_H$ (H$m{_H$ emgZ VWm gKRZ ~YZ _mS>`yb) EH$ AmYw{ZH$V_ _M H$m dVZ
{H$`m h {Oggo H$moa B`yaog gmo`yeZ Ho$ EH$ ^mJ Ho$ $n _| _mZd ggmYZ _| mmo{JH$s Ho$ Zò ImH$ H$s ewaAmV ImobZo H$m ew^ma^ {H$`m & nr.E.
_mS>`yb _| gWm Ho$ H$_Mm[a`m| H$s $naoIm g{hV _y`dmZ S>mQ>m VWm Amo.E_. _mS>`yb _| gJR>Zm_H$ T>mMm Ama nXmZwH$_ H$m {ddaU CnbY h &
gKR>Z Ho$ _mZdepV H$_Mm[a`m| Ho$ {dVV S>mQ>m gKRZ H$mo d[aV H$madmB Ho$ {bE _XX {_bVm h & A` gmn EM.gr.E_ _mS>`yb Ogo ^Vu, {ejU,
n[aUm_ ~YZ VWm loUr I nXmo{V H$m H$m` {ZhmB na h VWm {Z`{V ~YZ Ama doVZ {MQ>R>m AmJo nyam {H$`m OmEJm &
30
In preparation for implementation of CORE Insurance Solutions at the far-flung Micro offices the Company
enhanced the spread of network connectivity, harnessing the cost effective VPNoBB (virtual private network over
Broadband) technology .
The Company has progressed with the end to end implementation of the CORE Insurance Solution, successfully
integrating SAP FICO (Financial), B2B and other customer service enhancing modules. The Motor LOB has been
rolled out in 317 offices. Customer Service Hubs have been configured in Regional Offices enabling seamless
processing of claims. 23 Intermediary Motor dealers have been configured on Core, for issuance of policies 24x7,
from their desks.
The Company has successfully built the database of its most valuable resource - its Human Capital, on SAP HCM,
which is one of the CORE consortium. The Personnel Administration & Organisation Management (PA & OM)
modules have gone live in all the Regional Offices. The implementation of other HCM modules are underway.
HUMAN RESOURCES DEVELOPMENT & PERSONNEL
a) ORGANISATIONAL NETWORK
As on 31.03.2011, the Company has 1,436 offices :
Large Corporate &

Brokers' Cells
No.
26
7
Divisional Offices
Branch Offices and Micro Offices
384
1019
TOTAL
1,436
b) Performance Management System (PMS)

During the year, the Company successfully completed the rollout of the Performance Management System (PMS) as
a critical HR initiative. It was aimed at better engagement of human resources with the Company's vision,
objectives and strategies. As part of the PMS Process, Key Result Area based Targets were finalized for all the ROs,
LCBs, Operating Offices and the Departments at HO, besides DGMs and GMs at HO. During the year, the
KRA performance evaluation of all the Operating Offices, ROs , LCBs, Departments and verticals at HO for the year
2009-10 was completed, paving the way for deciding the winners of the Group / Individual Performance Linked
Incentives (PLI) for that year. In this second year of implementation of the PMS, it was found that the KRAs were well
internalized in the Company and significantly contributed to the better all-round performance of the Company.
It is expected that the KRAs and the PLI Scheme would continue to engender a healthy competition among the offices
in the Company to perform in an excellent synergic manner so as to facilitate the Company to accomplish
its objectives.
c) Human Capital Management (HCM)
The Company launched the new state-of-the art platform SAP HUMAN CAPITAL MANAGEMENT (Personnel
Administration and Organizational Management Modules) on 2nd February 2011 opening up the beginning of new
vistas of technology in HR, as part of CIS (Core Insurance Solutions). While PA module comprises valuable data
including the life cycle events of all employees in the organization, the OM module captures the structure and the
reporting hierarchy of the organization. The extensive data of employees lends a real-time insight into the workforce
of the organization facilitating faster and speedy decision making. Other SAP HCM Modules like Recruitment,
Training and Event management and Class I Promotion Policy are on the anvil with Time Management and Pay Roll
to follow.
DETAILS
Regional Offices
31
B) H$m{_H$
h_mar H$nZr _| 17,134 H$_Mmar h {OZH$m loUrdma {ddaU {ZZm{H$V H$ma go h
loUr
H$_Mmar g`m
5,257
II
1,221
{dnUZ
emgZ
570
III
7,738
IV AeH$m{bH$ Mnamgr g{hV
2,348
17,134
Hw$b
C) {ejU
_mZd ggmYZ H$nZr H$s A`{YH$ _y`dmZ gnpV h & H$nZr, H$_Mm[a`m| H$s J{V Ama d{ hoVw {d{^ {Z`{_V {ejU H$m`H$_m| Ho$ mam
H$_Mm[a`m| Ho$ kmZ Ama H$m`Hw$ebVm H$mo {ZaVa ~T>m ahr h Ama Ch| ~r_m CmoJ _| hmoZodmbo n[adVZm| Ama Ja OrdZ ~r_m CmoJ H$s MwZm{V`m| H$m
gm_Zm H$aZo Ho$ {bE V`ma H$a ahr h &
jor` H$m`mb` Ho$ H$m{_H$ ^m[a`m| H$mo `yZrgO J{V{d{Y`m| _| d{ Ama bm^ Xm{`Vm H$s m{ hoVw {Xg~a, 2010 H$mo A{Ib ^maVr` {ejH$ H$s
~R>H$ Ama \ adar, 2011 Ho _hrZo _| A{Ib ^maVr` H$m{_H$ A{YH$m[a`m| H$s ~R>H$ H$m Am`moOZ {H$`m J`m &
H$nZr H$m {ZJ_r` {ejU Ho$, Mo _| pWV h Ama jor` H$m`mb`m| _| VoBg jor` {ejU Ho$ h & CZHo$ Abmdm A{^H$VmAm| Ho$ {ejU hoVw Xoe
â _| AS>gR> A{^H$Vm {ejU Ho$ H$màV h &
`wZmBQ>oS> B{S>`m Ama A` gmdO{ZH$ ~r_m H$n{Z`m| Ed ^maVr`m OrdZ ~r_m {ZJ_, nwUo _| pWV ZoeZb B`yaog AH$mX>_r H$m gh`moJ XmZ H$a
ahr h VWm ~r_m `dgm`r`m| H$mo C Va H$m ~r_m {ejU Xo ahr h& AH$mX>_r, ~r_m jo _| AZwgYmZ H$s gw{dYm ^r XmZ H$aVr h & A{YH$m[a`m| H$mo
Hw$N> ~mh` gWmAm| `m{Z-H$mboO Am\$ B`yaog, g|Q>a \$ma AmaJoZmBOoeZ S>odbn_|Q> BpQ>Q>`yQ>, E Eg Eg Amo gr EM E E _ (ASSOCHAM) Ama
Ammo{JH$ ~YZ AH$mX>_r mam Am`mo{OV H$m`H$_m| _| Zm{_V {H$`m J`m &
C Var` H$m`nmbH$ {d{^ AVamQ>r` gWmAm| mam {dXoe _| Am`mo{OV gJmoR>r Ama ~R>H$m| _| CnpWV aho &
df 2010-11 _| H$_Mm[a`m| mam {d{^ {ejU H$m`H$_m| _| {V^m{JVm H$s J`r {OgH$m {ddaU {ZZ{b{IV H$ma go h
H _ g.
Hw$b g`m
H$m`H_
{V^mJr
ZoeZb B`yaog AH$mX_r, nwUo
71
551
{ZJ_r`m {ejU Ho$, Mo

jor` {ejU Ho$
A` ~mh` H$m`H$_
{dXoer {ejU
Hw$b
47
2044
423
9433
13
43
12
563
12083
3
4
5
32
gWm / H$m`H _ H$m Zm_
d) Break-up of Number of Employees

The Company has 17,134 employees with the following class-wise break-up:
CLASS
No. OF EMPLOYEES
5,257
II
Marketing
1,221
Administration
570
III
7,738
IV incl. PTS
2,348
TOTAL
17,134
e) Training
To prepare all the Regional Office level Personnel-in-charges and Training-in-charges strategically to cope up with
the demands of growth and profitability of the Company, an All India Trainers' Meet was conducted in
December 2010 and All India Personnel Officers' Meet in February 2011.
The Company has its own Corporate Learning Centre at Chennai and Twenty-three Regional Training Centres
attached to Regional Offices. Besides, sixty-eight Agents' Training Centres are also operating throughout the
country.
National Insurance Academy at Pune co-promoted by the Company along with its Public Sector counterparts and
LIC, imparts insurance training of a high degree to the insurance professionals. The Academy also offers research
facilities in the field of insurance. Officers were also nominated for training programmes at some external
institutions like College of Insurance, Centre for Organization Development Institute, ASSOCHAM and Industrial
Management Academy.
Top level executives have attended overseas seminars and meetings organized by various International Associations.
Details of Training Programmes attended by the employees during the year 2010-2011 are as under :
S.No.
Name of the Institution / Programme
Total No. of
Programmes
Participants
National Insurance Academy, Pune
71
551
Corporate Learning Centre, Chennai
47
2044
Regional Training Centres
423
9433
Other External Centres
13
43
Overseas Programmes
12
563
12083
Total
Human Resources are the Company's most valuable assets. The Company strives continuously to upgrade the
knowledge and skills of its employees through regular training programmes for growth and progress of the employees
and to prepare them to meet the market challenges and emerging trends in the non-life insurance Industry.
33
D) ^Vu
H$nZr Zo _mZd epV H$mo ~T>mZo H$s pQ> go Ama H$nZr _| AmgV Am`w H$mo H$_ H$aZo hoVw loUr I gdJ _| `wdm Ama {V^mdmZ `dgm{`H$m| H$s ^Vu Omar
aIr h & BgHo$ VhV H$nZr Zo boIm, BOr{Z`[aJ, {d{Y Ama gm_m` jo _| 160 A{YH$m[a`m| H$s ^Vu H$s h & Omo gyMZm mmo{JH$s Ama VH$ZrH$s
{d^mJ / MmbZ H$m`mb`m| _| _mZd epV Ho$ $n _| gh`moJ XmZ H$a|Jo & df 2011-12 Ho$ {bE 300 [apV`m emg{ZH$ A{YH$mar gdJ _| Kmo{fV
H$s J`r h Omo boIm, {d{Y, ~r_mH$H$ jo g{hV gm_m` A{YH$m[a`m| mam MmbZ H$m`mb`m| H$mo gj_ ~ZmZo Ho$ {bE h & H$nZr Zo H${f jo _| ^r ^Vu
H$aZo Ho$ {bE H$X_ CR>m`r h My{H$ H$nZr H${f ~r_m _| doe H$aZo H$m Vmd h & dm` jo _| hmoZo dmbr ^mar n[adVZm| H$mo `mZ _| aIVo hE H$nZr Zo
{M{H$gm em jo _| A{YH$m[a`m| H$s ^Vu H$aZo H$m Vmd H$s h & {H$`m_H$ jom| _| d{ / JmhH$ gVwpQ> _| d{ Ho$ CXXo` go Zò {V^mdZm
A{YH$mar dV_mZ Ho$ AZw^dr A{YH$m[a`m| Ho$ gmW {_bH$a H$m` _| gh`moJ X|Jo &
E) Eg.gr/Eg Q>r / Amo ~r gr / nr EM / ^yVnydg{ZH$m| H$`mU
Eg gr/Eg Q>r Ho$ {bE {Z`wpV _| nXm| H$m AmajU Ama Am`w gr_m _| {e{WbrH$aU Ama nXmo{V _| AmajU g~Yr {ZX}em| H$m AZwnmbZ {H$`m Om ahm h &
_mb` Ho {ZX}emZwgma Amo ~r gr H$s ^Vu AmajU g~Yr gaH$mar {ZX}em| H$m AZwnmbZ {H$`m Om ahm h & S>m. A~oS>H$a H$`mU `mg {Z{Y go
Eg gr/Eg Q>r Ama Amo ~r gr H$_Mm[a`m| Ho$ {bò {aAm`V mogmhZ Ama {dVr` ghm`Vm Xr Om ahr h &
{dH$bmJ H$m{_H$m| Ho$ {bò bmJy mdYmZm| H$mo H$m`mpdV {H$`m Om ahm h & H$nZr Zo mmM 2011 H$mo gnH$ A{YH$m[a`m| Ho$ {bE AmajU nm{bgr
H$mèmbm H$m Am`moOZ {H$`m & _mM 2011 H$mo AZwgyMr Om{V Ho$ amQ>r` Am`moJ, ZB {Xbr Ho$ _mZZr` gX`m| Zo AmajU Zr{V Ho$ H$m`md`Z H$s
g_rjm H$aZo Ho$ {bE nYmao &
{ejU H|$ _| {e{jV 2044 A{YH$mar _| Eg gr , Eg Q>r Ama Amo ~r gr Ho$ A{YH$mar H$_e 1022, 203 Ama 276 Wo & ZoZb B`ya|g AH$mX_r,
nwUo _| {e{jV 551 A{YH$mar _| Eg gr , Eg Q>r Ama Amo ~r gr Ho$ A{YH$mar H$_e 195, 76 Ama 142 Wo & {d{^ jor` {ejU H|$m| _| Am`mo{OV
{ejU H$m`H$_m| _| Eg gr , Eg Q>r Ama Amo ~r gr H$_Mm[a`m| H$mo C{MV Adga {X`m OmVm h &
H$nZr Xdmam Amdmgr` Am~Q>Z _| ^r AmajU {ZX}em| H$m AZwnmbZ {H$`m Om ahm h &
Iob H$m`H$bmn
Ho$r` IobIyX g{_{V H$s YmZ mW{_H$Vm h H$nZr Ho$ H$_Mm[a`m| Ho$ ~rM _| Iob J{V{d{Y`m| H$mo ~Tmdm XoZo H$s {V~Vm> h & {d{^ jom| _|
Am`mo{OV Iob J{V{d{Y`m| H$_Mm[a`m| _| Am_ {ddmg, d{ZâVm, AZwemgZ, B_mZXmar Ama _w`V: Q>r_ Cgmh {dH${gV H$aVm h & BgHo$
A{V[aV EH$-Xgao H$mo g_PZo, emar[aH$ VWm _mZ{gH$ $n go dW ~ZmZo H$m Adga XmZ H$aVm h & {dVr` df 2010-11 Ho$ XmamZ A{Ib
^maVr` {V`mo{JVmE nwUo _| H$a_, _wgmar _| Mog VWm Mo _| pdO Am`mo{OV H$s J`r Wr &
H$_Mm[a`m| H$mo {d{^ ~mh` {V`mo{JVmAm| hoVw Zm{_V {H$`m OmVm h {Og_| jor` Va Ama amQ>r` Va {V`mo{JVm`| ^r gp_{bV h & h_mar H$nZr
gmVdm df Ho$ {bE Mo AmonZ E Q>r nr Q>org {V`mo{JVm H$s b{Q>Z_ m`moOH$ Wr & EH$ CVaXm{`d {ZJ_r` ZmJ[aH$ hmoZo Ho$ ZmVo IobIyX _| gj_Vm
~T>mZo Ho$ {bE C{MV TmMm XmZ H$aZo Ho$ {bE H$nZr Zo H$mo{, Ho$ab _| AQ>mo Q>\$ VWm {gW{Q>H$ Q>oH$ H$m m`moOZ {H$`m h &
amO^mfm H$m`md`Z
H$nZr Zo ^maV gaH$ma mam Omar amO^mfm H$m`md`Z Ho$ dm{fH$ H$m`H$_ Ho$ AZwgma amO^mfm H$m`md`Z _| AN>r J{V Xem`r h &
g_rjm Ad{Y Ho$ XmamZ amO^mfm H$m`md`Z _| hm{gb CnbpY`m| _| {ZZ{b{IV gp_{bV h
1)
34
ggXr` amO^mfm g{_V H$s Vrgar Cn g{_[V Zo 10 OwbmB, 2010 H$mo ZB {Xbr jor` H$m`mb` - 1 Ama 21 AVy~a
2010 H$mo {Xbr jor` H$m`mb` - 2 H$m {ZarjU {H$`m & g{_{V Zo H$nZr mam amO^mfm H$m`md`Z _| H$s J`r J{V H$s
egm H$s &
f) Recruitment
The Company has been inducting young and talented professionals in Scale I cadre. To recoup the attrition of
manpower and to reduce the average age profile of the workforce, the Company has recruited 160 officers in the
disciplines of Accounts, Engineering, Law and Generalists providing manpower support to Technical Departments/
Operating Offices. For the year 2011-12, 300 vacancies have been declared for the post of Administrative Officers
to strengthen the areas of Accounts, Law, Actuary, apart from providing Generalist Officers to Operating offices. The
Company has also embarked on recruitment in the discipline of Agriculture, as there is a proposal to enter agriculture
insurance sector. Considering the tremendous changes witnessed in the health sector, the Company also proposes to
recruit officers in the discipline of medicine. The induction of fresh talented officers along with the existing
experienced officers would provide a balanced support in various operational areas aiming to improve the growth and
customer satisfaction.
g) Welfare of SC/ST/OBC/PH/Ex-Servicemen
The guidelines of Government on extending reservation of posts, relaxations of age in recruitment and reservation of
posts in promotion for SC/ST categories are being followed. The guidelines issued by the Government in reservation
for OBC categories in recruitment are followed. Concessions, incentives and financial support are being extended
from Dr. Ambedkar Welfare Trust Fund to the SC/ST & OBC Employees.
Out of 2044 Officers who were trained at Learning Centre, the number of SC, ST and OBC officers were 1022, 203
and 276 respectively. Similarly, out of the 551 Officers trained at NIA, Pune, the number of SC/ST/OBC officers was
195, 76 and 142 respectively. Adequate participation by SC/ST/OBC employees was also ensured at the training
programmes organized at various Regional Training Centres.
Adequate representation is also being given in the allotment of Staff Quarters as per reservation guidelines.
SPORTS ACTIVITIES:
One of the main priorities of the Central Sports Committee is the commitment to promote sports activities amongst
the employees. Sports activities in various disciplines are conducted regularly as they instill in the employees a spirit
of self-confidence; self-reliance, discipline, fair play and most importantly develop team spirit. In addition
it provides a chance to keep them physically and mentally fit. During the financial year 2010-11, All India
Tournaments/Competitions were organized in Carrom at Pune, Chess at Mussoorie and Quiz at Chennai.
Employees were also nominated to various outside tournaments including the National level tournaments apart from
participating in Regional level tournaments. For the seventh year in succession, we were the Platinum Sponsors for
the Chennai Open ATP Tennis Tournament. In order to provide best infrastructure to groom the talent in Sports and
as a responsible corporate citizen, the Company has sponsored an Astro Turf and synthetic track at Kochi, Kerala.
OFFICIAL LANGUAGE IMPLEMENTATION
In the year 2010-11 the Company has shown commendable progress in the implementation of official language
in line with the Annual Programme on Official Language Implementation of Govt. of India.
The achievements witnessed in the implementation of official language during the year are as under:
1)
The Third Sub-committee of Committee of Parliament on Official Language visited New Delhi ROI on
10th July 2010 and New Delhi RO-II on 21st October 2010. The committee appreciated the Company on its
progress made in official language implementation.
The provisions governing Physically Handicapped personnel are being implemented as required. The Company
conducted a Workshop for Liaison Officers on Reservation Policy in March 2011. Honourable members of the
National Commission for Scheduled Caste, New Delhi, visited the Company in March 2011 for the review of
implementation of Reservation Policy.
35
2)
A{Ib ^maVr` {hXr A{YH$mar gmobZ {Xg~a, 2010 H$mo hXam~mX m| gn hAm & mmb` Ho$ A{YH$marJU ^r CnpWV aho &
{hXr A{YH$m[a`m| H$mo amO^mfm H$m`md`Z go g~{YV {Xem{ZX}em| Ama `w{ZH$moS> gm\$Q>doà Ho$ `moJ Ho$ ~mao _| OmZH$mar Xr J`r &
3)
amO^mfm H$m`md`Z H$s J{V Ho$ {bE OZdar 2011 H$mo H$mo{ _| H$mo`~Vya Ama H$mo{ jor` H$m`mb` Zo g`wV $n go mS>b
H$m`mb`m| m| H$màV amO^mfm gmd`H$VmAm| Ho$ {bE {hXr gJmoR>r H$m Am`moOZ {H$`m &
4)
{hXr {ejU `moOZm, Mo Ho$ gh`moJ Ho$ gmW \$adar 2011 H$mo YmZ H$m`mb` Zo {hXr A{YH$m[a`m| Ho$ {bE `w{ZH$moS> H$mèmbm H$m
Am`moOZ {H$`m Vm{H$$ jor` H$m`mb`m| mam {hXr _| BgH$m AmZbmBZ `moJ ^mdembr T>J go {H$`m Om gHo$ &
5)
df Ho$ XmamZ _Xa Ama H$mo`~Vya jor` H$m`mb`m| Ama {^bmB emIm H$m`mb` (^monmb jor` H$m`mb`) H$mo amO^mfm H$m`md`Z m|
gdloR> H$m`{ZnmXZ Ho$ {bE WmZr` ZJa amO^mfm H$m`md`Z g{m{V Zo epV n Ama erS> go gmm{ZV {H$`m & bIZD$ ZJa
amO^mfm H$m`md`Z g{m{V Zo bIZD$ jor` H$m`mb` H$s {hXr Jhn{H$m "`w{Zda' H$mo gdloR> {hXr Jhn{H$m H$m g_mZ {X`m &
6)
14 {gV~a go 30 {gV~a 2010
7)
VH$ {hXr {Xdg / gmh / mmh YmZ H$m`mb` VWm mXo{eH$ H$m`mb`m| _| mZm`m J`m & {d{^
{V`mo{JVmAm| H$m Am`moOZ H$a H$_Mm[a`m| H$mo mogm{hV {H$`m J`m &
df 2010-11 Ho$ XmamZ YmZ H$m`mb` Zo {hXr Jhn{H$m "J{V' H$m H$meZ {H$`m Ama jor` H$m`mb` ^r {hXr Jhn{H$m H$m
H$meZ H$a aho h &
AmV[aH$ boIm narjm

boIm narjm H$m Ho$q~X h {H$ ~YZ b`m| H$mo hm{gb H$aZo Ho$ {bE AmV[aH$ boIm H$mo H$go gmYZ `m ghm`H$ moV Ho$ $n _| ~Xb| & Bg {Xem _|
H$nZr Zo dm{fH$ AmV[aH$ boIm narjm Ho$ WmZ na AY dm{fH$ boIm narjm _| n[ad{VV {H$`m & dV_mZ n[apQ> _| boIm narjH$m| Ho$ {bE ~r_m H$s
gnyU OmZH$mar Ho$ gmW mmo{JH$s H$s XjVm H$s Anojm h & AmV[aH$ boIm narjH$m| Ho$ {bE {ZYm[aV _mZH$m| H$m AZwnmbZ H$aZo H$s Anojm h & $ W_
~ma bJ^J 72 boIm narjH$m| H$mo ZoZb B`yaog AH$mX_r, nwUo _| Omo{I_ na AmYm[aV boIm narjm {ejU {X`m J`m {Oggo boIm narjm H$s
^mderbVm _| d{ hmoJr & {d^mJ Zo {Z`{_V boIm narjm Ho$ A{V[aV {d{eQ> jom| _| {deof boIm narjm ^r H$s &
boIm narjm AZwnmbZ
YmZ H$m`mb` Ama òH$ jor` H$m`mb` _| boIm narjm AZwnmbZ {d^mJ g{H$` $n go H$màV h {OgH$m H$m` `h gw{ZpMV H$aZm h {H$ boIm
{Z`H$ Ama _hm boIm narjH$ boIm narjH$m|, gm{d{YH$ boIm narjH$m| Ama H$nZr Ho$ AmV[aH$ boIm narjH$m| mam CR>mB J`r boIm narjm AmnpV`m|
H$m g_` na AZwdVu H$madmB H$s OmE &
{d^mJ H$nZr _| boIm narjm AZwnmbZ H$s OmJ$H$Vm nXm H$aZo _| Ama boIm narjH$m| Ho$ gmW {Z`{_V ~R>H$m| Ho$ _m`_ go b{~V boIm AmnpV`m| H$m
d[aV {ZnQ>mZ _| g\$b ahm h & df Ho$ XmamZ gn Xmo A{Ib ^maVr` jor` boIm narjm AZwnmbZ A{YH$m[a`m| H$s ~R>H$m| Zo boIm AZwnmbZ H$s d{
Ama boIm narjm AZwnmbZ H$s OmJ$H$Vm Ama VmH$m{bH$Vm H$m gXoe \$bmZo _| _XX Xr&
`h H$X_ AmZo dmbo dfm] _| ^r {d^mJ H$m _hdnyU Vd ~Zm ahoJm &
gVH$Vm
gVH$Vm ~YZ H$m EH$sH$V H$m` h & BgH$s Ano{jV mW{_H$Vm Xr J`r h & df 2010-11 Ho$ XmamZ _S>b H$m`mb`m| / emIm H$m`mb`m| / _mBH$mo
H$m`mb`m| H$m 228 AgmYmaU {ZarjU {H$`m J`m & {ZarjU Ho$ XmamZ nm`r J`r AgJ{V`m| H$mo gwYmaZo / AZwdVu H$madmB Ho$ {bE g~{YV H$m`mb`
H$s OmZH$mar _| bm`r J`r Ho$r` gVH$Vm Am`moJ, ZB {Xbr Ho$ {ZX}emZwgma ~r_mYmaH$m| Ama H$_Mm[a`m| Ho$ ~rM _| gVH$Vm H$m gXoe \$bmZo H$s
pQ> go H$nZr Ho$ g_V H$m`mb`m| _| 25.10.2010 go 1.11.2010 VH$ gVH$Vm OmJ$H$Vm gmh _Zm`m J`m & "^Q>mMma Ho$ {Ibm\$ OmJ$H$Vm
Ama Mma H$m gOZ hr YmZ Ho${~X Wm & jor` H$m`mb`m| _| H$B ~R>H|$ Am`mo{OV H$s J`r {Og_| WmZr` JU_m` `pV`m|| Zo ^mfU {X`m Ama
_hdnyU {df`m| na {Z~Y {V`mo{JVmE| Am`mo{OV H$s J`r &
36
2) All India Hindi Officers Conference was held at Hyderabad in December 2010. Ministry officials also
participated in the conference where the Hindi officers were apprised of the Ministry guidelines on official
language implementation and were also introduced to the UNICODE software.
3) A Joint Hindi Seminar for co-ordinators handling Official Language in DOs was organised in January 2011
by Coimbatore and Kochi RO to promote official language implementation.
4) In co-ordination with Hindi Teaching Scheme, Chennai, Hindi Unicode Workshop was organised by Head
Office in February 2011 for effective online application in Hindi by the Regional Offices.
5) Coimbatore and Madurai Regional Offices and Bhilai BO (Bhopal RO) were awarded Rajbasha Shield for
its best performance in Official Language Implementation by local Town Offical Language Implementation
Committee (TOLIC) during the year. Lucknow RO Hindi Magazine "UNISWAR" was adjudged as the
best Hindi Magazine by TOLIC, Lucknow.
th
th
6) Hindi Day/Week /Month was celebrated from 14 to 30 September 2010 in Head Office as well as Regional
Offices. Many competitions were organised to motivate the employees for active participation.
7) Head Office released one issue of Hindi House Magazine "PRAGATI" and ROs also released Hindi Magazines
during the year 2010-2011.
The focus of Internal Audit was on how to transform Internal Audit as a tool to assist the management to achieve the
goals. In this direction, the Company moved to Half yearly Audit model in the place of Annual Internal Audit Model.
The Internal Auditor in the current scenario needs to be IT savvy, with thorough knowledge in insurance and follow
the standards set for Internal Auditors. Training Programs for Internal Auditors were designed with these goals in
mind and for the first time the entire team of around 72 Audit Officers were trained in National Insurance Academy,
Pune covering areas like risk based internal audit which would enhance the effectiveness of Audit. Apart from the
regular audits, Special Audits, were also conducted in specific areas.
AUDIT COMPLIANCE
The Audit Compliance Department has been effectively functioning at Head Office and at each Regional Office
to ensure timely compliance for queries raised by the C&AG Auditors, Statutory Auditors and Internal Auditors of
the Company.
The department has been able to create awareness for audit compliance in the Company and effectively facilitate
faster settlement of pending audit queries through regular Meetings with the Auditors. The All India Regional Audit
Compliance Officers' Meeting held twice during the year helped to quicken the progress of Audit Compliance besides
helping to percolate the message of the need for awareness and urgency for Audit Compliance down the line.
These measures will continue to be important ingredients of the department's action plan in the coming year also.
VIGILANCE
Vigilance, an integral function of Management, was accorded the requisite priority. As a part of preventive
vigilance measures, Vigilance Department conducted 228 nos. of surprise inspections at Divisional Offices / Branch
Offices / Micro Offices during the year 2010-11. The lapses noticed during inspections have been brought to the
notice of the offices concerned for necessary rectification / compliance. As per advice given by Central Vigilance
Commission, New Delhi, Vigilance Awareness Week was conducted from 25.10.2010 to 01.11.2010 at Head Office
and all Offices under Regional Offices to spread message of vigilance amongst the employees and insuring public. The
main focus was on Generation of Awareness and Publicity against Corruption. Several Meetings were arranged
at Regional Office level where local dignitaries delivered speeches and Essay Competitions were also conducted
on various topics.
INTERNAL AUDIT
37
{e{jV OmM A{YH$mar /ogopQ>J A{YH$mar H$s g`m ~T>mZo Ho$ {bE 29 Ama 30 Zd~a 2010 H$mo Mo _| A{YH$m[a`m| Ho$ {bE Xmo {Xdgr` H$m`H$_ H$m
Am`moOZ {H$`m J`m & Ho$r` gVH$Vm Am`moJ Ho A{YH$mar Zo ^mfU {X`m Ama {V^m{J`m| Ho$ gmW {d{^ {df`m| na {dMma {d_e {H$`m {Og_|
XS>m_H$ gVH$Vm, Am_ OZVm / H$_Mm[a`m| H$mo ^Q>mMma H$s OmZH$mar ^r gp_{bV Wm & {d^mJr` OmM na Vrd AZwdVu H$madmB Ho$ H$maU b{~V
_m_bm| H$s g`m _| H$Q>mVr hB h &
28.3.2011 go 29.3.2011 VH$ Jmodm _| gVH$Vm A{YH$mar dm{fH$ g_obZ H$m Am`moOZ {H$`m J`m &
Bg g_obZ _| gVH$Vm A{YH$m[a`m| Ho$

H$m`{ZnmXZ H$s g_rjm H$s J`r Ama Ho$.Ama.E. b`m| Ama JwUm_H$ {ZnmXZ na YmZ H$m`mb` H$s AnojmAm| H$s OmZH$mar Xr J`r &
H$mnm} aoQ> JdZ}g H$s [anmoQ>
hmb _| H$mnm}aoQ> JdZog H$m _hd ~T> J`m h Ama `dgm` ApVd Ho$ {bE AN>o JdZog na Omoa {X`m J`m h & Ohm VH$ ~r_m jo H$m gdmb h,
nm{bgrYmaH$m| Ho$ {hV H$s gwajm, emoY j_Vm H$m AZwnmbZ, _O~yV XrK H$m{bZ {Zdoe Zr{V Ama {ddoH$nyU AmYma na Omo{I_ H$m ~r_mboIZ Ama
gJR>Z _| gnyU Omo{I_ ~YZ Ho$ _y`mH$Z na Omoa {X`m J`m h &
{ZXoeH$ _S>b Ama CZH$s Cn g{_{V`m| H$m {ddaU {ZZmZwgma h
{ZXoeH$ _S>b
lr. E. dr. aZ_ Ama lr. A{^{OV ~monm`m` 27.08.2010 H$s ^mdr VmarI go H$nZr Ho$ {ZXoeH$ Ho$ nX go H$m` _wV hE & H$nZr Ho$ {ZXoeH$ Ho$
$n _| lr E. dr.aZ_ Ama lr. A{^{OV ~monm`m` mam H$s J`r A_y` godmAm| H$s {ZXoeH$ _S>b Zo gamhZm H$s &
{ZXoeH$ _S>b H$s ~R>H$m| H$m {ddaU
df Ho$ XmamZ 6 {ZXoeH$_S>b H$s ~R>H|$ 30 Ab 2010, 21 OwbmB 2010, 11 AJV 2010, 10 Zd~a 2010, 24 OZdar 2011 Ama
14 \$adar, 2011 H$mo hB &
{ZXoeH JU
Am`mo{OV ~R>H$m| H$s g`m
~R>H$ _| CnpW{V
1.
lr. Or. lr{ZdmgZ
2.
lr. VU ~OmO
3.
lr Q>r. E_.^grZ
4.
lr. E. dr. aZ_
5.
lr. A{^{OV ~monm`m`
6.
lr. {_{bX E IamV
7.
lr. dr. hfdYZ

6
6
~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU Ho$ {ZXoemZwgma lr Eg H$UZ, ~r_mH$H$ df Ho$ XmamZ gn hB N> {ZXoeH$ _S>b H$s ~R>H$m| _|
CnpWV Wo &
{Zdoe g{_{V H$m {ddaU
df Ho$ XmamZ 5 {Zdoe g{_{V H$s ~R>H|$ 21 OwbmB 2010, 11 AJV 2010, 10 Zd~a 2010, 24 OZdar 2011 Ama 14 \$adar 2011
H$mo hB & {Zdoe g{_{V {ZXoeH$ _S>b mam AZw_mo{XV {Zdoe Zr{V Ho$ H$m`md`Z H$s g_rjm H$aVr h gmW-gmW {Zdoe H$m` {d{Y`m| H$s g_rjm
H$aVr h &
38
To increase the pool of trained Inquiry Officer / Presenting Officer, a two-day programme was arranged at
th
th
Chennai on 29 & 30 November 2010. The Official from the CVC participated in the deliberations, and interacted
with the participants on various issues including preventive vigilance, sensitizing people / employees about
corruption. Vigorous follow up on departmental inquiries was carried out which enabled reduction in pendencies
considerably.
The Annual Conference of Vigilance Officers was organised at Goa from 28.03.2011 to 29.03.2011, wherein
performance of Vigilance Officers was reviewed and they were sensitized with the parameters of KRA and
expectations of Head Office on the Qualitative performance.
REPORT ON CORPORATE GOVERNANCE
Corporate governance has acquired importance in recent times and much emphasis has been focused on good
governance of the business entity. As regards the insurance sector, the emphasis is on aspects like protection of the
interests of the policyholders, maintenance of solvency, sound long term investment policy and assumption of
underwriting risks on a prudential basis and evaluation of overall risk management across the structure of the
organisation.
The Details of the Board and its Sub-committees are given below :
Shri A.V. Ratnam and Shri.Abhijit Bandyopadhyay, ceased to be Directors w.e.f. 27.08.2010. The Board placed on
record its appreciation of the valuable services rendered by Shri.A.V.Ratnam and Shri Abhijit Bandyopadhyay, as
Directors of the Company.
BOARD MEETING DETAILS:
th
st
th
Six meetings of the Board were held during the year i.e. on 30 April 2010, 21 July, 2010, 11 August, 2010,
th
th
th
10 November 2010, 24 January 2011 and 14 February, 2011.
Director
No. of Meetings held
No. of Meetings attended
1.
Shri.G.Srinivasan
2.
Shri Tarun Bajaj
3.
Shri.T M Bhasin
4.
Shri.A.V. Ratnam
5.
Shri.Abhijit Bandyopadhyay
6.
Shri.Milind A Kharat
7.
Shri V. Harshavardhan
In terms of IRDA directions, Shri S. Krishnan, Actuary was present in all the six Board meetings held during
the year.
Details of Investment Committee Meeting:
Five meetings of the Investment Committee were held during the year i.e. on 21st July, 2010, 11th August, 2010,
10th November 2010, 24th January 2011 and 14th February 2011. The Investment Committee
monitors the implementation of the investment policy as approved by the Board apart from monitoring the
investment functions.
BOARD OF DIRECTORS
39
1.
2.
3.
4.
5.
6.
7.
{ZXoeH JU
lr. Or. lr{ZdmgZ, A`j-gh-~Y {ZXoeH$
lr. VU ~OmO, {ZXoeH$
lr Q>r. E_.^grZ, {ZXoeH$ (5-7-2010 go)
lr. A{^{OV ~monm`m`, {ZXoeH$ (26-8-2010 VH$)
lr.Eg.Ho$. Kmof,_hm~YH$ d {dVr`gbmhH$ma (30-9-2010 VH$)
lr.~r.E_. R H$a,_hm~YH$ d {dVr`gbmhH$ma (1-10-2010 go)
lr. Eg. H$UZ, ~r_mH$H$
H$m`H$mb _| hB ~R>H$m| H$s g`m
~R>H$ _| CnpW{V
boIm narjm g{_{V H$m {ddaU

df Ho$ XmamZ nmM ~R>H|$ 30 Ab 2010, 22 OwbmB 2010, 11 AJV, 2010, 10 Zd~a 2010 Ama 14 \$adar 2011 H$mo hB &
{ZXoeH JU
1.
2.
3.
4.
5.
lr.VU ~OmO, {ZXoeH

lr. Q>r. E_. ^grZ, {ZXoeH$ (10.11.2010 go)
lr.E.dr.aZm, {ZXoeH$ (26.08.2010 VH$ )
lr. A{^{OV ~monm`m`, {ZXoeH$ (26.08.2010 VH$ )
lr.{_{bX E IamV, {ZXoeH$
~R>H$ _| CnpW{V
boIm narjm g{_{V H$nZr _| M{bV AmV[aH$ {ZÙ Umbr H$s gaMZm, gj_Vm Ama H$m` Umbr H$s g_rjm H$aVr h & g{_{V H$nZr Ho$ {dVr`
{ddaU na MMm H$aVr h Ama {ZXoeH$ _S>b H$s drH${V hoVw VwV H$aVr h &
g{_{V Zo AmV[aH$ boIm narjH$m|, boIm {Z`H$ Ama _hm boIm narjH$ mam CR>m`r J`r b{~V AmnpV`m| Ama {Zdoe {d^mJ Ho$ g_XrH$mar boIm
narjm| go g~{YV _m_bm| na {dMma {H$`m & H$nZr H$s AmV[aH$ boIm narjm Ama AmV[aH$ {ZÙ Umbr H$s g_rjm H$aZo _| g{_{V Zo ^mdembr AJ
{Z^m`r Ama Umbr _| gwYma Ho$ {bE gwPmd {X`m &
gyMZm mmo{JH$s : - Xmo ~R>H|$ 06.05.2010 Ama 21.1.2011 H$mo$> hB &
{ZXoeH JU
1.
lr.E.dr.aZm,{ZXoeH$
2. lr. hfdYZ, {ZXoeH$
3. lr {_{bX E IamV, {ZXoeH$
~R>H$ _| CnpW{V
doVZ$ g{_{V
gaH$ma {ZX}e Ho$ AZwnmbZ m| H$nZr H$s doVZ$ g{m[V H$m JR>Z {H$`m J`m h & Bg g{m{V m| gaH$ma Ho$ mZmoZrV {ZXoeH$, ~H$ Ho$ mZmoZrV [ZXoeH$ Ama
Ja gaH$ma {ZXoeH$ gX` h & df Ho$ XmamZ 21.7.2010 H$mo ~R>H hB &
{ZXoeH JU
1.
2.
3.
40
lr. VU ~OmO, {ZXoeH$

lr Q>r. E_.^grZ, {ZXoeH$
lr.E.dr.aZm,{ZXoeH$
~R>H$ _| CnpW{V
Director

during his /her tenure
1.
Shri.G.Srinivasan, CMD
2.
Shri Tarun Bajaj, Director
3.
Shri.T.M. Bhasin, Director (from 5-7-2010)
4.
Sri Abhijit Bandyopadyay, Director (upto 26.8.2010)
5.
Sri S.K.Ghosh, GM & FA (upto 30.9.2010)
6.
Shri B.M. Thakkar, GM & FA (from 1.10.2010)
7.
Sri S.Krishnan , Actuary
Details of Audit Committee Meeting:

th
nd
Director
th
April 2010, 22 July, 2010, 11 August

1.
2.
Shri T.M. Bhasin, Director (from 10.11.2010)
3.
Sri A.V.Ratnam, Director (upto 26.8.2010)
4.
Sri Abhijit Bandyopadyay,Director (upto 26.8.2010)
5.
Sri Milind A.Kharat, Director
The Audit Committee reviews accounting policies and also the structure, efficacy
and process of the internal
control systems prevailing in the Compnay. The Committee deliberates on the Financial statements of the Company
before placing the same before the Board of Directors for adoption.
The Committee dealt with pending audit objections raised by the Internal Auditors, queries raised by the C&AG and
also the matters related to Concurrent Audit of Investment Department. The Committee played a pro-active role in
reviewing the status of the Internal Audit in the Company and also suggested improvements in the same.
I.T.Committee: Two Meetings were held on 6.5.2010 & 21.1.2011.
Director

1.
Sri A.V. Ratnam, Director
2.
Sri V. Harshavardhan, Director
3.
Sri Milind A Kharat, Director
Remuneration Committee :
Remuneration committee of the Company was constituted in compliance with the Government directives with the
Government Nominee directors, Bank Nominee Director and a Non-Official Director of the Board. One meeting
of the Committee was held during the year on 21st July 2010.
Director

1.
2.
Shri T.M.Bhasin ,Director
3.
Shri A.V.Ratnam, Director
Five meetings of the Audit Committee was held during the year on 30
th
th
2010, 10 November 2010 & 14 February 2011.
41
nm{bgrYmaH$m| H$s gwajm g{_{V

df (2010-11) Ho$ XmamZ Mma ~R>H|$ 21.7.2010, 18.1.2011, 14.2.2011 Ama 30.3.2011 H$mo hB &
{ZXoeH JU
1. lr Or. lr{ZdmgZ, A`j-gh-~Y {ZXoeH$
4
2. lr Q>r. E_. ^grZ , {ZXoeH$
4
3. lr.E.dr.aZm,{ZXoeH$ (26.08.2010 VH$ )
1
4. lr. dr. hfdYZ, {ZXoeH$
4
~R>H$ _| CnpW{V
4
3
1
4
Omo{I_ ~YZ g{_{V :

df Ho$ XmamZ (2010-11) Mma ~R>H|$ 22.7.2010, 24.1.2011, 14.2.2011 Ama 30.3.2011 H$mo hB &
1.
2.
3.
4.
{ZXoeH JU
lr Or. lr{ZdmgZ, A`j-gh-~Y {ZXoeH$
lr.VU ~OmO, {ZXoeH$
lr. A{^{OV ~monm`m`, {ZXoeH$ (26.08.2010 VH$ )
lr.{_{bX E IamV, {ZXoeH$
~R>H$ _| CnpW{V
boImnarjH$
H$nZr A{Y{Z`_ 1956 H$s Ymam 619 Ho$ A`YrZ ^maV Ho$ boIm {Z`H$ d _hmboImnarjH$ Ho$ nam_e Ho$ AZwgma _ogg AmZX d nmonZ,
_Zmoha MmYar ES> Egmo{gòQ>g, H$`mUgwXa_ ES> H$nZr, gZXr boImH$ma, [anmoQ> H$s Ad{Y Ho$ {bò gm{d{YH$ boImnarjH$ Ho$ $n _| {Z`wV {H$ò
Jò & BgHo$ A{V[aV {d{^ jor` H$m`mb`m| Ama _S>b H$m`mb`m| _| boIm narjH$ {Z`wV {H$ò Jò &
H$nZr A{Y{Z`_ 1956 H$s Ymam 217 (2E ) Ho$ AVJV H$_Mm[a`m| H$m {ddaU
g_rjmYrZ df Ho$ XmamZ H$nZr A{Y{Z`_ 1956 H$s Ymam 217 (2 E ) Ho$ AVJV {ZYm[aV gr_m go A{YH$ doVZ {H$gr H$_Mmar H$mo Zht {X`m J`m &
gXmZ VWm ~YZ IM Ho$ A` _X
H$_ g.
1.
_ogg {V_b Mm[aQ>r Q>Q>
{ddaU
am{e .
15,00,000
(A) _ZmoaOZ (Am) {dXoe `mm Ama (B) Mma Ama {dkmnZ Ho$ g~Y _| IM am{e H$_e : . 2,19,892.25, . 41,45,699.20 Ama
.19,29,88,816.06 Wr &
{ZXomH$m| Ho$ CVaXm{`d {ddaU
{ZXoeH$m| Ho$ CVaXm{`d {ddaU Ho$ g~Y _| H$nZr A{Y{Z`_ H$s Ymam 217 (2EE) Ho$ AZwgma `h EVXmam nwQ> {H$`m OmVm h {H$ :
1. _mM 31, 2011 H$mo g_m hE {dVr` df Ho$ dm{fH$ boIm V`ma H$aZo _| bmJy boIm _mZH$m| H$m AZwnmbZ {H$`m J`m h Ama Ohm H$ht
VmpdH$ $n go AZwgaU Zht {H$`m J`m h Bg g~Y _| Amd`H nQrH$aU [X`m J`m h ;
2. {ZXoeH$m| Zo {dVr` df Ho$ AV _| H$nZr Ho$ _m_bm| Ho$ dmV{dH$ Ama C{MV {ddaU VwV H$aZo Ho$ {bE Ama g_rjmYrZ df Ho$ {bE
H$nZr Ho$ bm^ `m hm{Z H mo ghr Ama nQ> H$amZo Ho$ {bE Eogr boIm Zr{V`m| H$m M`Z {H$`m Ama bmJy {H$`m Ama {bò Jò {ZU` Ama
AZw_mZ, `wpV`wV Ed XyaJm_r h ;
3. {ZXoeH$m| Zo H$nZr H$s n[agnpV H$s gwajm Ama H$nQ> VWm A` A{Z`{_VVmE amoH$Zo Ed nVm H$aZo Ho$ {bò A{Y{Z`_ Ho$ mdYmZm| Ho$
AZwgma n`m boIm {ddaU Ho$ aIaImd Ho$ {bò C{MV Ama n`m `mZ aIm h ; Ama
4. {ZXomH$m| Zo dV_mZ n^mdr AmYma na 31 _mM 2011 H$mo g_m hE {dVr` df Ho$ dm{fH$ {VdoXZ H$mo V`ma {H$ò h &
42
Policy Holders Protection Committee:

Four Meetings were held during the year (2010-11) i.e. on 21.7.10, 18.1.2011, 14.2.2011 and 30.3.2011.
Director

1.
Shri G Srinivasan, CMD
2.
Shri T.M. Bhasin, Director
3.
Sri A.V.Ratnam, Director (upto 26.8.2010)
4.
Shri V. Harshavardhan, Director
Risk Management Committee :

Four Meetings were held during the year (2010-11) i.e. on 22.7.10, 24.1.2011, 14.2.2011 and 30.3.2011.
Director
1.
2.
3.
4.

4
4
1
4
4
2
1
4
Shri G. Srinivasan, CMD

Sri Abhijit Bandyopadyay, Director (upto 26.8.2010)
Shri Milind A. Kharat, Director
M/s. Anand & Ponnappan, M/s.Manohar Chowdhry & Associates, M/s.Kalyanasundaram & Co., Chartered
Accountants were appointed for the period under review, as Statutory Auditors by the Comptroller & Auditor General
of India u/s 619 of The Companies Act 1956, in addition to the Auditors appointed for various Regional and
Divisional Offices.
PARTICULARS OF EMPLOYEES u/s 217 (2A) OF THE COMPANIES ACT, 1956
During the year under review, none of the employees were paid remuneration in excess of the limit specified
u/s 217 (2A) of The Companies Act, 1956.
DONATION AND CERTAIN OTHER EXPENSES OF MANAGEMENT
Sl.No.
1.
Particulars
Amount (Rs.)
M/s Thirumalai Charity Trust
15,00,000
Expenses on (a) Entertainment (b) Foreign Tours and (c) Publicity and Advertisement amounted to
Rs.2,19,892.25p , Rs.41,45,699.20p and Rs.19,29,88,816.06p respectively.
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 217 (2AA) of the Companies Act, 1956, with respect to Directors'
Responsibility Statement, it is hereby confirmed that :
st
1. In the preparation of the annual accounts for the financial year ended 31 March 2011, the applicable
accounting standards have been followed along with proper explanation relating to material departures;
2. The Directors have selected such accounting policies and applied them consistently and made judgements and
estimates that were reasonable and prudent so as to give a true and fair view of the state of affairs of the
Company at the end of the financial year and of the profit or loss of the Company for the year under review;
3. The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in
accordance with the provisions of this Act for safeguarding the assets of the Company and for preventing and
detecting fraud and other irregularities; and
st
4. The Directors have prepared the annual accounts for the financial year ended 31 March 2011, on a going
concern basis.
AUDITORS
43
H$nZr mam hm{gb A{^km - nwaH$ma

df H$o XmamZ H$nZr mam hm{gb H$s{V_mZ nwaH$ma H$m {ddaU :
(A)
(Am)
(B)
(B)
(C)
~mbr, BS>moZo{e`m _| gn 14 E{e`m B`yaog BS>Q>r nwaH$ma 2010 _| E{e`m B`yaog ao`y go E{e`m _| C VrZ
gm_m` ~r_m H$n{Z`m| _| go EH$ Ho$ $n _| MwZr J`r &
EZ S>r Q>r dr go gdloR> Ja OrdZ ~r_mH$Vm nwaH$ma &
H$moM {\$Zmp`b BbyeZ nwaH$ma 2011&
by_~J `y Q>r dr go df Ho$ gm_m` ~r_mH$Vm - gmdO{ZH$ CnH$_ &
Xbmb Q>rQ> OZb go gdloR> ~r_mH$Vm - Ja OrdZ &
df 2011-12 H$s `moOZmE

H$nZr H$s df 2011-12 Ho$ AV VH$ AnZr nhM H$m {dVma _mBH$mo H$m`mb`m| VH$ H$aZo Ho$ A{V[aV {dnUZ d{Q>H$g Ogo Eb.gr.~r., A{^H$Vm
{dH$mg, ~H$m`moaog Ed _moQ>a JR>~YZ H$mo gwT> H$aVo hE gH$b `j r{_`_ (Or S>r nr AmB) Ho$ A 8000 H$amoS> Ho$ Zò _rb Ho$ nWa H$mo hm{gb
H$aZo H$s AmemdmXr `moOZm h &
H$nZr Va na C XKQ>Zm dmbo jom| _| Xmdm AZwnmV _| H$_r bmZo Ho$ H$_ _| {ZMbo Va VH$ gwYma H$aZo hoVw Xmdm ~YZ {H$`m _| {ZaVa ~ohVar Ho$
`mg Omar h & g^r Vah Ho$ `dgm`m| Ho$ jo _| "H$moa ~r_m Umbr' H$m {H$`md`Z {H$`m OmEJm Ama Bggo A{^j_Vm H r d{ hmoJr Ed Bg Umbr mam
Omar ggmYZm| H$m Cn`moJ godm jo Ed h_mar ~r_m ~r_mYmaH$ OZVm H$mo ~ohVa AZw^d XmZ H$aoJm & H$nZr H$m b` Jm_rU Ed gm_m{OH$ jo Ho$
~r_m, gaH$mar gmYZ ~r_m H$m`H$_m| _| A{YH$m{YH$ gh^m{JVm, Zò CnmXm|, dV_mZ CnmXm| _| d{YV godmE XmZ H$aZo Ed BZ CnmXm| Ho$ {dH$` hoVw
A{YH$ go A{YH$ JR>~YZ H$aZo na Ho$pV h &
ggX _| dm{fH$ {VdoXZ H$s Vw{V
H$nZr A{Y{Z`_ 1956 H$s Ymam 619-~r Ho$ gmW n{R>V Ymam 619-E Ho$ VhV H$_e 23-11-2010 Ama 26-11-2010 H$mo am` g^m Ama
bmoH$ g^m _| {ZXoeH$ H$s [anmoQ> g{hV 31-3-2010 H$mo g_m df Ho$ {bE H$nZr Ho$ dm{fH$ {VdoXZ VwV {H$`m J`m &
A{^drH${V
{ZXoeH$ _S>b AnZo g^r JmhH$m| H$mo CZHo$ A_y` gh`moJ Ho$ {bE Y`dmX A{^`V H$aVo h & H$nZr Ho$ g^r H$_MmarJU Ama EO|Q>m|, Xbmbm| Ama
H$nZr Ho$ A` _`Wm| Ho$ g\$b H$m`{ZnmXZ H$mo {ZXoeH$ _S>b A{^{b{IV H$aVo h & {Z`wV ~r_mH$H$, nam_eu ~r_mH$H$, gm{d{YH$
boImnarjH$m|, {dV _mb` H$m ~r_m ^mJ, ~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU, gm_m` ~r_mH$Vm (gmdO{ZH$ jo) gK VWm gX`
boIm narjm ~moS> Am{X H$mo CZHo$ _mJXeZ Ama gh`moJ Ho$ {bE {ZXoeH$ _S>b Am^ma `V H$aVo h &
H$Vo {ZXoeH$ _S>b VWm CZH$s Va\$ go
Or. lr{ZdmgZ
28-04-2011
44
A`j gh ~Y {ZXoeH$
RECOGNITION FOR THE COMPANY- AWARDS & ACCOLADES

During the year, the Company received the following awards and recognition :
1. The Company was selected as one among the top three General Insurance Companies in Asia by
th
Asia Insurance Review at the 14 Asia Insurance Industry Award 2010 held in Bali, Indonesia.
2. Best Non-Life Insurer Award from NDTV Profit .
3. Skoch Financial Inclusion Award,
4. General Insurer of the year -Public Sector from Bloomberg UTV and
5. Best Insurer-Non Life from Dalal Street Investment Journal
PLANS FOR 2011-12
The Company has optimistic plans to achieve a new milestone of A 8000 crores of GDPI by the close of the year
2011-12 through consolidating the business verticals like Large Corporates & Brokers Offices, Agency
Development, Bancassurance and Motor tie-ups in addition to extending its reach through Micro Offices. It expects
to add substantially to the current level of agency force.
PLACING OF ANNUAL REPORT BEFORE THE PARLIAMENT

The Annual Report of the Company along with the Directors Report for the year ending 31.03.2010 was placed
under section 619-A read with 619-B of the Companies Act 1956 on 23-11-2010 and 26-11-2010 on the tables of
Rajya Sabha and Lok Sabha respectively.
ACKNOWLEDGEMENTS
The Board of Directors conveys its sincere thanks to all clients for their continued patronage. Board also places on
record its appreciation for the good work done by employees and agents, brokers and other intermediaries of the
Company. The Board also thanks the Appointed Actuary, Consulting Actuary, Statutory Auditors, Insurance
Division of the Ministry of Finance, Insurance Regulatory and Development Authority, General Insurers' (Public
Sector) Association and Member - Audit Board for their guidance and support.
For and on behalf of the Board
28-04-2011
G. SRINIVASAN
The Company continues to improve its claims management to bring down the claims ratio in high incidence
segments, to improve the bottom line. The Core Insurance solutions would be rolled out in select line of businesses,
which would increase efficiency and the resources released would be used for servicing and deliver improved
experience to the insuring public. The Company aims to increase its focus on rural and social sector insurance, larger
participation in government mass insurance programmes, new products, add-on to existing ones and more tie ups
for distribution of the products.
45
{ZXoeH$ _S>b H$s $naoIm
Zm_
lr. Or. lr{ZdmgZ
AhVm
{deofk H$m jo
{ZXoeH H$s h{g`V
~r.H$m_.,E\$AmBAmBAmB,
E.AmB.gr.S>b`y.E.
~r_m
1. OrAmBgr hmD$[gJ \$mBZmg {b{_Q>oS>

2. Ho$ZB{S>`m E`yaog H$nZr {b{_Q>oS,
Ho$`m
3. ^maVr` gmYmaU ~r_m [ZJ_
lr. VU ~OmO, AmBEEg
~r.H$m_., E_.~r.E,
E_.Eggr., gr.E\$.E.
{dV
1. gaH$ma Ho
lr Q>r E_ ^grZ
E_Eggr, E_~rE,
EbEb~r, grEAmBAmB~r
~qH$J
A`j Ama ~Y {ZXoeH$, B{S>`Z ~H$
lr. {_{bX E IamV
E_.E,., EbEb~r,
E\$AmBAmBAmB
~r_m
_ZmoZrV {ZXoeH$ dr Eg Q>r BS>Q>rg {b{_Q>oS>
lr. dr. hfdYZ
~r.Eggr., A{JH$bMa
~r_m
_ZmoZrV {ZXoeH$ Eg Eb Amo B{S>`m {b{_Q>oS>
_ZmoZrV {ZXoeH$ ^maVr` gmYmaU ~r_m [ZJ_

2. {X `y B{S>`m E`yaog H$nZr
(Q>r & Q>r ), doQ> B{S>g
3. A{JH$Ma B`yaog H$. Am\$ B{S>`m
4. ~H$ Am\$ B{S>`m
5. B[aJoeZ ES> dmQ>a [agmogg \$mBZmg
H$mnm}aoeZ {b{_Q>oS>
H$mnm}aoQ> JdZog {ZX}e Ho$ AZwnmbZ H$m _mU n

_, Eg. d|Q>am_Z EVXmam _m{UV H$aVm h {H$ ~r_m H$n{Z`m| Ho$ {bE bmJy H$mnm}aoQ> JdZog Ho$ {ZX}e, g_` g_` na gemo{YVmZwgma, H$m AZwnmbZ
{H$`m J`m h Ama {H$gr ^r V` H$mo AH${Q>V `m {N>nm`m Zht J`m h &
Eg. d|H$Q>am_Z
H$nZr g{Md
46
PROFILE OF THE BOARD OF DIRECTORS
Qualification
Field of Specialization
Status of Directorship
Shri. G. Srinivasan
B.Com, FIII, AICWA Insurance
1. GIC Housing Finance Limited

2. Kenindia Assurance Company
Limited, Kenya.
3. GIC of India
Shri. Tarun Bajaj, IAS
B. Com, M.B.A,
M.Sc., CFA
Finance
1. Govt. Nominee Director GIC of India

2. The New India Assurance
Company (T&T), West Indies
3. Agriculture Insurance Co. of
India
4. Bank of India
5. Irrigation and Water Resources
Finance Corpn. Ltd.
Shri. T.M.Bhasin
M.Sc., MBA.,
LLB., CAIIB
Banking
CMD, Indian Bank
Shri. Milind A Kharat
M.A. LLB, FIII
Insurance
Nominee Director VST Industries Limited
Shri. V. Harshavardhan
B.Sc. Agriculture
Insurance
Nominee Director XLO India Limited
CERTIFICATION FOR COMPLIANCE OF THE

CORPORATE GOVERNANCE GUIDELINES
I, S.Venkataraman, hereby certify that the Company has complied with the corporate governance
guidelines for Insurance Companies as amended from time to time and nothing has been concealed or
suppressed.
S.VENKATARAMAN
COMPANY SECRETARY
PROFILE OF THE BOARD OF DIRECTORS
Name
47
eoàYmaH$m| Ed nm{bgrYmaH$m| H$s {Z{Y - 2010-11

SHAREHOLDERS AND POLICYHOLDERS FUNDS 2010-11
eoàYmaH$m| H$s {Z{Y / SHAREHOLDERS FUNDS
(A in 000)
31.03.2011
H mo eof
Balance as on
31.03.2011
(A in 000)
31.03.2010
{VeV
H mo eof
Percentage
Balance as on
31.03.2010
{VeV
Percentage
eoà nyOr
SHARE CAPITAL
1500000
1500000
13589
13589
40945745
39988852
19998
22018
nyOr Ama{jV
CAPITAL RESERVE
gm_m` Ama{jV
GENERAL RESERVES
{d{dY / {deof Ama{jV

MISCELLANEOUS /
SPECIAL RESERVES
Hw$b eoàYmaH$m| H$s {Z{Y

TOTAL SHAREHOLDERS
FUNDS
42479332
nm{bgrYmaH$m| H$s {Z{Y
36.78
41524458
(A in 000)
POLICYHOLDERS FUNDS
31.03.2011 31.03.11
H$mo
Ag_m
Omo{I_
Ama{j{V
H$mo
~H$m`m
Xmdm
Ama{j{V
40.52
(A in 000)
31.03.2010 31.03.2010
31.03.11
H$mo
Ag_m
Omo{I_
Amm{j{V
H$mo
Hw$b
Ama{j{V
H$mo 31.03.2010
H$mo
~H$m`m
Hw
$b
Xmdm
Ama{j{V
Ama{j{V
Total
Unexpired Outstanding Reserves
Risks
claims
as on
Reserves
Reserves 31.03.2011
as on
as on
31.03.2011 31.03.2011
Unexpired
Risks
Reserves
as on
31.03.2010
Outstanding
claims
Reserves
as on
31.03.2010
ApZ /FIRE
2708096
3626582
6334678
2136391
3582350
5718741
_arZ / MARINE
1440391
2100692
3541083
1401118
1734187
3135305
{d{dY /MISCELLANEOUS
21777287
41358568
63135855
17695125 34388635 52083760
25925774
47085842
73011616
63.22
21232634 39705172 60937806
59.48
115490948
100.00
102462264
100.00
Total
Reserves
as on
31.03.2010
Hw$b nm{bgrYmaH$m| H$s {Z{Y

TOTAL POLICYHOLDERS
FUNDS
Hw$b {Z{Y
TOTAL FUNDS
nm{bgrYmaH$m| VWm eoàYmaH$m| Ho$ ~rM _| df 2010-11 Ho {Zdoe Am` Ho$ [Z[Z_`Z Ho$ {bò 01.04.2010 H$s eof am{e H$m `moJ {H$`m J`m h &
The balances as on 01.04.2010 are used as basis for apportionment of investment income of 2010-11 between policyholders and shareholders
AmgV eoàYmaH$m| {Z{Y / Average Shareholders Funds (no` H amoS>mo _| / A in crores)

AmgV nm{bgrYmaH$m| {Z{Y / Average Policyholders Funds (no` H amoS>mo _|/A in crores)
48
42001.89
66974.71
JV nmM dfm] _| dm`, Jm_rU Ama gm_m{OH$ jo _| H$m` {ZnmXZ

Performance in Health, Rural and Social Lines in past five years
nm[bgr [ddaU
df
Policy Details
Year
Omar
nm[b[g`m|
H$s g.
No.of
Policies
issued
~r[_V
`pV`m|
H$s g.
dgybr J`r
r{_`_
am[e
gy{MV
Xmdm|
H$s g.
CnJV
Xmdo
H$s am{e
[Zn[QV
Xmdm|
H$s g.
AXm [H$ò
Jò Xmdo
H$s am{e
CnJV
Xmdm| H$m
AZwnmV %
No.of
persons
Insured
Amount of
Premium
collected
No.of
claims
reported
Incurred
claims
amount
No.of
claims
settled
Claims
settled
amount
Incurred
claims
ratio %
_oS>rbo_ nm[bgr / MEDICLAIM POLICIES

_oS>rbo_
2006-07
787230
3148923
39361.54
110710
47161.34
64011
43023.89
119.82
(`{VJV+g_yh)
2007-08
987543
3950175
56242.55
139915
61040.91
117967
58714.81
108.53
Mediclaim
(Individual+Group)
2008-09
873806
5299612
85319.77
430881
99405.82
378186
94416.29
110.00
2009-10
954765
6051624 123437.41
596312
141673.68
536245 143463.46
114.77
2010-11
986082
8828139 155833.34
732937
157806.68
698819 154861.92
101
gm_m{OH$ Ama Jm_rU jo H$r EH$ PbH$ / SOCIAL AND RURAL SECTOR - A GLIMPSE
OZ Amamo`/
2006-07
58526
89414
62.59
1035
80.89
1702
84.61
129.24
Jan Arogya
2007-08
48231
73685
51.58
990
74.68
1628
80.96
144.78
2008-09
46198
70548
49.42
798
61.73
1276
63.61
124.91
2009-10
38205
74583
41
844
53.97
1349
55.50
132.05
2010-11
27862
54391
30
580
44.63
851
44.61
149.26
OZVm `pVJV
2006-07
2926552
3136508
1976.00
1515
2144.00
3361
2017.00
108.50
XwKQZm nm{cgr
2007-08
3177560
3405524
2145.48
1878
1890.14
4167
2500.67
88.10
Janata Personal
2008-09
4902481
5254210
3310.15
2815
2908.5
4973
2992.66
87.87
Accident Policy
2009-10
4823956
5170051
3257.13
3598
3777.93
7211
4326.63
115.99
2010-11
4623141
4954829
3121.54
2711
3021.68
4212
3135.55
96.80
gmd^m{_H$ dm` ~r_m
2006-07
99933
384288
811.08
4627
303.27
1684
300.05
37.39
Universal Health
2007-08
370856
1426113
3009.96
8081
692.19
2941
524.05
23.00
Insurance
2008-09
734536
3121778
3966.50
27352
2344.40
19035
2379.66
59.11
2009-10
378785
1453630
3067.65
19719
1690.23
10100
1764.66
55.10
2010-11
229266
1887899
1856.75
13676
1336.52
12781
1298.96
71.98
new ~r_m
2006-07
2087711
4163955
5982.61
32033
3530.01
57170
3432.43
59.00
Cattle Insurance
2007-08
2394481
4775810
6861.70
37843
3753.79
67541
4055.08
54.71
2008-09
2604846
5195652
7464.93
45746
4538.3
76854
4614.61
60.79
2009-10
2695868
5391736
7660.42
55824
5484.16
94184
5651.03
71.59
2010-11
3007495
6014989
8545.92
61213
7076.14
75142
7002.11
82.80
PERFORMANCE IN HEALTH, RURAL AND SOCIAL LINES IN PAST FIVE YEARS
(nò >cmIm| _|) / (A in Lakhs)
49
`wZmBQ>oS> B{S>`m B`yaog H$nZr {b{_Q>oS> Ho$ ^mJrXmam| H$mo boIm narjm {VdoXZ
h_Zo `wZmBQoS> B{S>`m B`yyaog H$nZr {b{_Q>oS> Ho$ 31 _mM 2011 VH$ gbZ VwbZ n VWm CV {XZ H$mo g_m df Ho$ {bE ApZ, g_wr Vmm
{d{dY ~r_m amOd ImVm, bm^ Ama hm{Z ImVm VWm H$e \ bmo {ddaU H$r OmM H$s h {OZ_| gZXr boImH$ma Ho$ A` \ _ mam boIm nar{jV 26 jor`
H$m`mb`m|, 7 bmO H$mnm}aoQ Ama ~moH a H$j (Ec gr ~r) VWm 384 _S>b H$m`mb`m| H$s boIm VWm A` {ddaU gp_{bV h Vmm ApV_ {dXoer
MmbZ H$m {dXoer boIm narjH$ mam boIm nar{jV {ddaU ^r g_o{H$V h &
VwbZ n, amOd ImVo Ama bm^ Ama hm{Z ImVm Ama H$e \$bmo {ddaU H$nZr A{Y{Z`_ 1956 H$s Ymam 211 Ho$ gmW n{R>V H$nZr A{Y{Z`_
1938, ~r_m {d{Z`m_H Ama {dH$mg m{YH$aU (AmB Ama S>r E) (~r_m H$n{Z`m| Ho$ {dVr` {ddaU Ama boIm narjm [anmoQ> H$s V`mar) {d{Z`_
2002 Ho$ mdYmZm| Ho$ AZwgma V`ma {H$ò Jò h &
ò {dVr` {ddaU H$nZr ~YZ H$m Xm{`d h & h_mar boIm narjm Ho$ AmYma na BZ [dVr` {ddaUm| na AnZm _V H$Q> H$aZm h_mam Xm[`d h &
^maV _| m` drH$V boIm narjm _mZH$ Ho$ AmYma na `h boIm narjm {H$`m J`m h & CZ _mZH$m| Ho mam `h Ano{jV h {H$ h_ boImnarjm H$m Cg
H$ma {Z`moOZ VWm {ZnmXZ H$a| {H$ {dVr` {ddaU _| _hdnyU V`m| H$m JbV H$Q>Z Z hwAm hmo & {dVr` {ddaUm| H$s am{e`m| Vmm CnbY
H$Q>Zm| Ho$ g_WZ _| VwV _mUm| H$mo narjU AmYma na OmM H$aZm boIm narjm H$m EH$ ^mJ h & ~YZ mam `wV boIm {gmVm| VWm _hdnyU
_y`mH$Zm| Ho$ {ZYmaU H$aZo Ho$ gmW-gmW gnyU {dVr` {ddaU Vw{V H$m _y`mH$Z ^r boIm narjm _| gp_{bV h & h_| {ddmg h {H$ h_mar
boIm narjm h_mao _V H$m C{MV AmYma h &
h_ {VdoXZ H$aVo h {H$
A) h_Zo do g^r gyMZmE Ama nQ>rH$aU m H$s h, Omo h_mao gdm}V_ OmZH$mar Ama {ddmg Ho$ AZwgma h_mar boIm narjm Ho$ `moOZ Ho$ {bE
Amd`H$ Wo Ama gVmofOZH$ nm`m ;
Am) h_mao _V` _o H$nZr mam aIr JB boIm ImVm| H$s OmM H$aZo go VrV hmoVm h {H$ dYm{ZH$ $n go Ano{jV boIm ~{h`m h ;
B)
h_mar am` _| _S>b H$m`mb`m|, jor` H$m`mb`m|, bmO H$mnm}aoQ Ama ~moH a H$j Ama {dXoer EOogr Ho$ A{V_ MmbZ go C{MV {ddaU m hE h
VWm ò h_mar boIm narjm Ho$ {bò n`m h ;
B)
_S>b H$m`mb`m|, jor` H$m`mb`m|, bmO H$mnm}aoQ Ama ~moH a H$j Ama {dXoer MmbZ Vg~Yr boIm narjH$ [anmoQ> Ho$ gmW A` g~pYV
{ddaU VWm OmZH$mar {dMmamW {bE JE h ;
C)
h_mao {VdoXZ _| em{_b {H$ò Jò H$nZr Ho$ VwbZ n, amOd mmVo, bm^ Ama hm{Z mmVm, H$e \$bmo (m{ Ama ^wJVmZ boIm) Am{X H$m
{_bZ ImVm ~{h`m| Ama {dda{U`m| Ho$ AZwgma hr h ;
D$) H$nZr mam M`Z H$s JB boIm n{V, H$nZr A{Y{Z`_ 1956 H$s Ymam 211 H$s Cn Ymam (3gr) Ho$ boIm _mZH$ H$o AZwHy$b h Ama ~r_m
{d{Z`m_H Ama {dH$mg m{YH$aU (~r_m H$nZr Ho$ {dVr` {ddaU Vmm boIm narjm {VdoXZ) {d{Z`_ 2002 mam {ZYm[aV boIm n{V`m|
Ho$ AZw$n h ;
G$) g^r {ZXoeH$ gaH$ma Ho Zm_m{H$V {ZXoeH$m| Ho$ H$maU H$nZr A{Y{Z`_ H$s Ymam 274(1) (Or) bmJy Zht h ;
50
E)
H$nZr Zo ~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU (~r_m H$n{Z`m| Ho$ {dVr` {ddaU Ed boImnarjH$ {VdoXZ H$s V`mar) {d{Z`_ 2002
Ho$ mdYmZm| Ho$ AZwgma AnZo {Zdoem| H$m _y`mH$Z {H$`m h ;
Eo)
CnJV bo{H$Z Agy{MV Xmdo (AmB.~r.EZ.Ama.) Ed CnJV ~pH$ n`m $n go Agy{MV Xmdm| (AmB.~r.EZ.B.Ama.) H$m ~r_mH$H$ _y`mH$Z
{Z`wV ~r_mH$H$ mam _mpmV {H$`m J`m h & {Z`wV ~r_mH$H$ Zo H$nZr H$mo n_m[UV {H$`m h {H$ Eogo AZw_mZm| Ho$ {bE `wV Ymamm|
g_w{MV h Ama ~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU VWm ~r_m [d{Z`m_H$ Ama {dH$mg m{YH$aU H$s gh_{V go ^maVr` ~r_mH$H$ gWm H$s
AnojmAm| Ho$ AZwnmbZ _| h & h_mar OmM Bg {dm` na {Z`wV ~r_mH$H$ Ho$ _mU n na AmYm[aV h &
AUDIT REPORT TO THE SHAREHOLDERS OF

UNITED INDIA INSURANCE COMPANY LIMITED
We have audited the attached Balance Sheet of United India Insurance Company Limited as at 31st March 2011, the
Fire, Marine and Miscellaneous Insurance Revenue accounts, the Profit and Loss Account and Cash Flow Statement
for the year ended on that date annexed thereto, in which are incorporated accounts and returns of 26 Regional
Offices, 7 Large Corporate and Brokers Cells (LCBs) and 384 Divisional Offices audited by other firms of Chartered
Accountants and an Overseas run-off operations audited by an Overseas Auditor.
These financial statements are the responsibility of the Company's Management. Our responsibility is to express
an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing
standards generally accepted in India. These standards require that we plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free of material misstatements. An audit
includes examining, on a test basis, of evidence supporting the amounts and disclosures in the financial
statements. An audit also includes assessing the accounting principles used and significant estimates made by
management, as well as evaluating the overall financial statement presentation. We believe that our audit
provides a reasonable basis for our opinion.
We report that :
a) We have obtained all information and explanations, which, to the best of our knowledge and belief were
necessary for the purpose of audit and found them to be satisfactory;
b) In our opinion, proper books of accounts as required by law have been kept by the Company so far as appears from
our examination of those books;
c) In our opinion, proper returns of Regional Offices, Divisional Offices, LCBs and Overseas run-off operations,
have been received and these were considered adequate for the purpose of audit;
d) The Reports of the Auditors on the accounts of Regional Offices, Divisional Offices, LCBs and Overseas run-off
operations and such other particulars and information thereon have been taken into consideration;
e) The Balance Sheet, Revenue Accounts, Profit and Loss Account and Cash Flow Statement (Receipts and
Payments Account) dealt with by our report are in agreement with the books of accounts and returns;
f)
The accounting policies of the Company are in accordance with the Accounting Standards referred to in
Sub-section (3C) of Section 211 of the Companies Act, 1956, to the extent applicable and with the accounting
principles as prescribed by the IRDA (Preparation of Financial Statements and Auditor's Report of Insurance
Companies) Regulations, 2002;
g) Section 274(1)(g) of Companies Act is not applicable as all Directors are Government nominated directors;
h) The Company has valued its investments in accordance with the provisions of IRDA (Preparation of Financial
Statements and Auditor's Report of Insurance Companies) Regulations 2002;
i)
The actuarial valuation of Claims Incurred But Not Reported (IBNR) and Claims incurred But Not Enough
Reported (IBNER) has been duly certified by the appointed actuary. The appointed actuary has certified to the
Company that the assumptions used for such estimate are appropriate and are in accordance with the
requirement of the Insurance Regulatory and Development Authority (IRDA) and Actuarial Society of India
in concurrence with IRDA. We have relied on the appointed actuary's certificate in this regard.
AUDIT REPORT TO THE SHAREHOLDERS OF UI
The Balance Sheet, the Revenue Accounts, the Profit and Loss Account and the Cash Flow Statement have been
drawn in accordance with Insurance Act, 1938, Insurance Regulatory and Development Authority (IRDA)
(Preparation of Financial Statements and Auditor's Report of Insurance Companies) Regulations 2002 read with
Section 211 of the Companies Act, 1956.
51
h_mao _V` _| Ama h_| m OmZH$mar VWm h_| {Xò Jò nQ>rH$aU Ho$ AZwgma, CV ImVm| Ed boIm Zr{V`m| Ama Xr JB {Q>n{U`m| Ho$ gmW nT>o
OmZo na `h boIm Cgr H$ma H$r OmZH$mar XmZ H$aVo h Ogm{H$ ~r_m A{Y{Z`_ 1938, ~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU A{Y{Z`_ 1999
Ama H$nZr A{Y{Z`_ 1956, Ho$ AVJV Ano{jV h d mmaV _| gm_m`V AnZmB OmZodmbr boIm n{V Ho$ AZw$n {ZZ{b{IV Ho$
g~Y _| EH$ ghr Ed {Znj AdbmoH$Z VwV H$aVm h &
(i)
(ii)
(iii)
(iv)
VwbZ n Ho$ g~Y _| 31 _mM 2011 H$mo H$nZr H r H$m` pm[V ;

amOd boIm Ho$ g~Y _|, 31 _mM 2011 H$mo g_m df hoVw A{Yeof / H Q>mVr ;
bm^ Ama hm{Z boIm Ho$ g~Y _| 31 _mM 2011 H$mo g_m hE df hoVw bm^ H$m ; Ama
H$e \$bmo {ddaU Ho$ g~Y _| 31 _mM 2011 H$mo g_m {dVr` df hoVw m{`m Ed ^wJVmZ H$m &
{df` H$m _hd

h_mao _V` H$mo nyam {H$ò {~Zm, h_ {dVr` {ddaU Ho$ ZmoQ> g.24 H$s Amoa AmnH$m `mZ AmH$fU H$aVo h, {Og_| 31-3-2011 H$mo g_m df Ho$ {bE
A 11280 bmI H$s am{e VH$ Ja A{^km{nV Ama Ja n[aemo{YV CnXmZ Xm{`d H$mo gp_{bV {H$`m J`m h, `h AmB.Ama.S>r.E. mam CnXmZ hoVw
~T>m`m mdYmZ H$m n[aH$bZ'' go g~{YV n[an g.AmB.Ama.S>r.E./E\ $& E/n[a/EoQ>/069/04/2011 {X.18-04-2011 Ho$ _m`_ go XV
{dH$n Ho$ AZwgma h &
AmJo h_ n_m{UV H$aVo h {H$
(i)
h_Zo ~YZ {VdoXZ H$s g_rjm H$s h Vmm nm`m h {H$ `h `jV [Q> a{hV h VWm {dVr` {ddam Ho$ gmW H$moB _hdnyU {dgJ{V
Zht h &
(ii)
H$nZr Zo ~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU mam nOrH$aU Ho$ {bò {ZYm[aV eVm] Ama {Z`_m| H$m AZwnmbZ {H$`m h &
(iii)
h_mar nyU OmZH$mar VWm H$nZr mam {Xò Jò nQ>rH$aU Ed A`mdoXZm| Ho$ AZwgma H$nZr {H$gr `mg H$s `mgr Zht h &
(iv)
h_Zo ZmoQ> 10 _| Xem`r JB {Zdom H$mo N>moS>H$a ZH$Xr Ama ~H$ _| O_m am{e`m| VWm g~{YV {V^y{V`m| Ama {Zdoem| H$m dmV{dH$ {ZarjU mam
AWdm _mU-nm| Ama / AWdm A` XVmdoOm| Ho$ gm` mam, g`m{nV {H$`m h &
(v)
H$nZr Zo AmB.Ama.S>r.E. mam VVr` nj dm{U` dmhZm| nyb Ho$ n[aUm_d$n {H$E JE H$m` {ZnmXZAma Cg nyb {Z{Y Ho$ {Zdoe go g~{YV
Omar {ZX}e H$m AZwnmbZ {H$`m h &
(vi)
h_mar OmZH$mar VWm H$nZr mam h_| {Xò Jò nQ>rH$aU Ed A`mdoXZm| Ho$ AZwgma ~r_mYmaH$m| H s$ {Z{Y`m| Ho$ {H$gr ^r n[agnpV H$m `j
`m namoj $n go ~r_m A{Y{Z`_, 1938 (1938 H$m 4) H$o mdYmZm| Ho$ {d$ Cn`moJ Zht {H$`m J`m h & `h ~r_mYmaH$m| H s${Z{Y`m| Ho$
Cn`moJ Ama {Zdoe go g~{YV mdYmZ h &
H$Vo AmZX ES> nmonZ

AmBgrEAmB E\$AmaEZ 000111Eg
gZXr boImH$ma
H$Vo H$`mUgwXa_ ES> H$.

gZXr boImH$ma
H$Vo _Zmoha MmYar ES> Egmo{gEQ>g

gZXr boImH$ma
grE Ama. nmonZ

^mJrXma (gX`Vm g. 21695)
grE. Ho$. a_oeHw$_ma

grE Or. Ama. h[a

Mo
28 Ab 2011
52
In our opinion and to the best of our information and according to the explanations given to us, the said accounts
read with Significant Accounting Policies and Notes thereon give the information as required by the Insurance Act,
1938, the Insurance Regulatory and Development Authority Act, 1999 and the Companies Act, 1956 to the extent
applicable in the manner so required, give a true and fair view in conformity with the Accounting principles generally
accepted in India.
(i) In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March 2011;
(ii) In case of the Revenue Accounts, of the surplus/(deficit) for the year ended 31st March 2011;
(iii) In the case of the Profit and Loss Account, of the profit for the year ended 31st March 2011; and
(iv) In the case of the Cash Flow Statement, of the receipts and payments for the financial year ended
31st March 2011.
Emphasis of Matter :
Further, we certify that :

(i) We have reviewed the Management Reports and there is no apparent mistake or material inconsistency
with the financial statements.
(ii) The Company has complied with terms and conditions of the registration stipulated by the IRDA.
(iii) To the best of our information and explanations given to us and representations made by the Company,
the Company is not the trustee of any trust.
(iv) We have verified cash and bank balances, investments and securities relating to loans by actual inspection or
by production of certificates and other documentary evidences except in the case of investment referred to
in Note No.10.
(v) The Company has complied with the instructions issued by the IRDA in relation to the business transacted
on account of motor third party commercial vehicles pools and the investment of funds from that pool.
(vi) To the best of our information and explanations given to us and representations made by the Company,
no part of the assets of the Policyholders' Funds has been directly or indirectly applied in contravention of the
provisions of the Insurance Act, 1938 (4 of 1938) relating to the application and investments of the
Policyholders' Funds.
For Anand & Ponnappan

ICAI FRN: 000111S
Chartered Accountants
For Kalyanasundaram & Co.

ICAI FRN:001676S
For Manohar Chowdhry & Associates

ICAI FRN:001997S
CA R. Ponnappan, Partner
(Membership No. 21695)
CA K.Rameshkumar, Partner
(Membership No.23962)
CA G.R.Hari, Partner
Chennai
28th April 2011
AUDIT REPORT TO THE SHAREHOLDERS OF UI
Without qualifying our opinion, we draw attention to Note No. 24 to the financial statements, which describes
unrecognized and unamortized Gratuity liability to the extent of A 11280 Lakhs for the year ended 31-3-2011
pursuant to the option granted by the Insurance Regulatory and Development Authority to all the Insurance and
Re-insurance Companies vide Circular No. IRDA/F&A/CIR/ACT/069/04/2011 dated 18-04-2011 on the subject
Accounting Treatment of Enhanced Provision of Gratuity.
53
31 _mM, 2011 H$mo g_m df Ho$ {bò `wZmBQ>oS> B{S>`m B`yaog H$nZr {b{_Q>oS>, Mo Ho$ ImVo na, H$nZr A{Y{Z`_ 1956 H$s Ymam 619 (4) Ho$ AYrZ, ^maV Ho$ {Z`H$ d
_hmboImnarjH$ H$s {Q>nUr
31 _mM , 2011 H$mo g_mV df Ho$ {bò `wZmBQ>oS> B{S>`m B`yaog H$nZr {b{_Q>oS> H$m {dVr` {ddaU H$nZr A{Y{Z`_ 1938 Ho$ gmW n{R>V ~r_m {d{Z`m_H Ama {dH$mg
m{YH$aU (AmB Ama S>r E) (~r_m H$n{Z`m| Ho$ {dVr` {ddaU Ama boIm narjm [anmoQ> H$s V`mar) {d{Z`_ 2002 Ama H$nZr A{Y{Z`_ 1956 H$o VhV {ZYm[aV {dVr` {ddaU
gaMZm Ho$ AZwgma V`ma {H$`m J`m h ,Omo H$nZr Ho$ ~YZ H$m Xm{`d h & H$nZr A{Y{Z`_ 1956 H$s Ymam 619(2 ) Ho$ VhV ^maV Ho$ {Z`H$ d _hm boImnarjH$ mam
{Z`wV gm{d{YH$ boIm narjH$ H$mo `dgm{`H$ gWm ^maVr` gZXr boImH$ma gWmZ mam {ZYm[aV boIm narjm Ed ~r_m _mZH$m| Ho$ AZwgma dV boIm narjm Ho$ AmYma na,
H$nZr A{Y{Z`_ 1956 H$s Ymam 227 H$o VhV AnZm _V H$Q> H$aZo H$s {O_oXmar h & do boIm narjm {VdoXZ {XZmH$ 28 Ab 2011 _| AnZm _V H$Q> {H$ò h &
_Zo ^maV Ho$ {Z`H$ d _hmboImnarjH$ H$s Amoa go `wZmBQ>oS> B{S>`m B`yaog H$nZr {b{_Q>oS> Ho$ 31 _mM 2011 H$mo g_m df Ho$ {dVr` {ddaU H$nZr
A{Y{Z`_ 1956 H$s Ymam 619 (3) (~r) Ho$ AYrZ AZwnyaH$ boIm narjm {H$`m & `h AZwnyaH$ boIm narjm gm{d{YH$ boIm narjH$m| Ho$ H$mJOmVm| H$mo
{bò {~Zm dV $n go {H$`m J`m VWm `h _ybV gm{d{YH$ boIm narjH$m| H$s OmM Ed H$nZr H$m{_H$ Ama Hw$N> boIm A{^boIm| Ho$ MwZo Jò narjU VH$
gr{_V h & _oar boIm narjm Ho$ AmYma na H$moB {d{eQ> {ddaU _oar OmZH$mar _| Zht Am`r h {Oggo H$nZr A{Y{Z`_ 1956 H$s Ymam 619(4) Ho$
AYrZ gm{d{YH$ boIm narjm {VdoXZ na `m CgHo$ AZwnyaH$ na H$moB {Q>nU Zht H$aZr h &
H$Vo ^maV Ho$ {Z`H$ Ama _hm boImnarjH$ Ama CZH$s Va\$ go
WmZ :Mo - 600 034

{XZmH$ : 01-06-2011
54
(Ama.Eg.aJamOZ)
YmZ {ZXoeH$,dm{U{`H$ boIm narjm VWm nXoZ gX`,
boIm narjm ~moS,> Mo
The preparation of financial statements of United India Insurance Company Limited for the year ended 31 March
2011 in accordance with the financial reporting framework prescribed under the Insurance Act, 1938 read with the
Insurance Regulatory & Development Authority (Preparation of Financial Statements and Auditors Report of
Insurance Companies) Regulations, 2002 and the Companies Act, 1956 is the responsibility of the management of
the Company. The statutory auditors appointed by the Comptroller and Auditor General of India under Section
619(2) of the Companies Act, 1956 are responsible for expressing opinion on these financial statements under
Section 227 of the Companies Act, 1956 based on independent audit in accordance with the auditing and
assurance standards prescribed by their professional body, the Institute of Chartered Accountants of India. This is
stated to have been done by them vide their Audit Report dated 28 April 2011.
I, on behalf of the Comptroller and Auditor General of India have conducted a supplementary audit under Section
619(3)(b) of the Companies Act, 1956 of the financial statements of United India Insurance Company Limited for the
year ended 31 March 2011. This supplementary audit has been carried out independently without access to the
working papers of the statutory auditors and is limited primarily to inquiries of the Statutory Auditors and Company
personnel and a selective examination of some of the accounting records. On the basis of my audit, nothing significant
has come to my knowledge which would give rise to any comment upon or supplement to Statutory Auditors Report
under Section 619(4) of the Companies Act, 1956.
For and on behalf of the

Comptroller & Auditor General of India
Place :Chennai - 600 034

Date: 01-06-2011
(R.S. RANGARAJAN)
Principal Director of Commercial Audit &
ex-officio Member, Audit Board, Chennai
COMMENTS OF THE COMPTROLLER & AUDITOR GENERAL OF INDIA
COMMENTS OF THE COMPTROLLER & AUDITOR GENERAL OF INDIA UNDER SECTION 619(4) OF THE
COMPANIES ACT, 1956 ON THE ACCOUNTS OF UNITED INDIA INSURANCE COMPANY LIMITED,
CHENNAI, FOR THE YEAR ENDED 31st MARCH 2011.
55
56
31
_mM 2011 H$mo g_m df Ho$ {bò

{dVr` {ddaU Ama AZwgy{M`m
FINANCIAL STATEMENTS AND SCHEDULES

FOR THE YEAR ENDED 31st MARCH 2011
57
`wZmBQ>oS> B{S>`m B`yaog H$nZr {b{_Q>oS> / UNITED INDIA INSURANCE COMPANY LIMITED
nOrH aU g`m : 545, ~r {d {d Ho$ gmW ZdrH aU H r$ VmarI : 10 _mM 2010
Registration No. : 545, Date of Renewal with IRDA : 10th March 2010
ApZ ~r_m amOd ImVm 31 _mM 2011 H$mo g_m df Ho$ {bE
FIRE INSURANCE REVENUE ACCOUNT FOR THE YEAR ENDED 31st MARCH 2011
{ddaU / Particulars
AZwgyMr
Schedule
Mmby df
JV df
Current Year
(A 000)
Previous Year
(A 000)
A{OV r{_`_ (ew)

Premium earned (Net)
4529122
4104549
553879
649112
18
60015
-837
-1496
477237
558214
5559419
5370394
3113836
1980730
24022
-44141
2180889
1409531
1345
1680
14573
21214
11125
18080
-16229
-14838
-4219
664
5325342
3372920
234077
1997474
{Zdoem| H$s {~H s / AXm`Jr na bm^/hm{Z (mw)

Profit/Loss on sale/redemption of Investments (Net)
dmng {b`m J`m {d{dY eof (ew)

Sundry Balances written back (Net)
{d{Z_` go hm{Z /bm^

Exchange Loss/Gain
`mO, bm^me d {H$am`m - gH$b

Interest, Dividend & Rent Gross
Hw$b (A) / TOTAL (A)

CnJV Xmdo (ew)
Claims Incurred (Net)
H$_reZ
Commission
~r_m H$mamo~ma go g~{YV MmbZ IM

Operating Expenses related to Insurance Business
A` / Others
{Zdom go g~{YV IM
Expenses relating to Investments
{Zdoe H$s r{_`_ na n[aemoYZ

Amortisation of Premium on Investments
m{gV {Zdoe go g~{YV ~Q>Q>o ImVo _| S>mbr J`r am{e

Amount written off in respect of depreciated investments
Aemo` Ama gpXY G$Um| Ho$ {bE mdYmZ

Provision for Bad and Doubtful Debts
g{H$` $n go Z `mnm[aV gm`me Ho$ Ad_y`Z hoVw mdYmZ

Provision for diminution in the value of other than
actively traded Equities
Hw$b (Am) / TOTAL (B)

MmbZ bm^/(hm{Z) B = (A - Am)
Operating Profit / (Loss) C=(A-B)
58
{d{Z_`Z / APPROPRIATIONS
Transfer to Shareholders Account
234077
1997474
234077
1997474
_hm{dnpV Ama{j{V H$mo AV[aV

Transfer to Catastrophe Reserve
A` Ama{j{V H$mo AV[aV ({ddaUmZwgma)

Transfer to Other Reserves (to be specified)
Hw$b (B) / TOTAL (C)
~r_m A{Y{Z`_ 1938 H$s Ymam 40gr (2) Ho$ AZwgma h_ EVXmam _m{UV H$aVo h {H$ h_mar gdm}V_ OmZH$mar Ama {ddmg Ho$ AZwgma ApZ ~r_m
H$mamo~ma _|, Mmho `j `m namoj $n go, H$ht ^r {H$E JE CnJV ~Y IM g^r A{Z ~r_m amOd ImVo _| IM Ho$ $n _| nyUV {dH${bV
{H$ò Jò h &
As required by Section 40C(2) of the Insurance Act, 1938, we hereby certify that to the best of our knowledge and
belief, all expenses of management wherever incurred whether directly or indirectly in respect of Fire Insurance
Business have been fully debited in the Fire Insurance Revenue account as expenses.
H$Vo {ZXoeH$ _S>b VWm CZH$s Va\$ go / For and on behalf of the Board
Or. lr{ZdmgZ
G. SRINIVASAN
VU ~OmO
Qr.E_. ^grZ
{_{bX E IamV
dr.hfdYZ
Tarun Bajaj
T.M. Bhasin
Milind A Kharat
V.Harshavardhan
}
}
~r. E_. R>H$a

{dVr` gbmhH$ma
{ZXoeH$JU
B.M. Thakkar
Financial Advisor
Eg. d|H$Q>am_Z
H$nZr g{Md
Directors
S. Venkataraman
Company Secretary
h_mao gbZ {VdoXZ Ho$ Azwgma /Vide our report of date attached
H$Vo AmZX ES> nmonZ
gZXr boImH$ma
gZXr boImH$ma
gZXr boImH$ma
ICAI FRN: 000111S

ICAI FRN:001676S

ICAI FRN:001997S
grE Ama. nmonZ


grE Or. Ama. h[a

Mo / Chennai
28 Ab 2011
28th April 2011
FIRE INSURANCE REVENUE ACCOUNT
A`j gh ~Y {ZXoeH$
59
g_wr ~r_m amOd ImVm 31 _mM 2011 H$mo g_m df Ho$ {bE
st
MARINE INSURANCE REVENUE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2011
{ddaU / Particulars
AZwgyMr
Schedule
Mmby df
JV df
Current Year
(A 000)
Previous Year
(A 000)
A{OV r{_`_ (ew)

2452070
2117009
303740
242396
30031
53
-445
261711
208452
3017582
2597443
2171195
2185154
134669
228209
960401
712165
738
628
7991
7922
6101
6752
-8900
-5542
-2314
248
3269881
3135535
-252299
-538092


{d{Z_` go hm{Z /bm^

Exchange Loss/Gain


CnJV Xmdo (ew)
H$_reZ
Commission

A` / Others
{Zdom go g~{YV IM





60
-252299
-538092
-252299
-538092


~r_m A{Y{Z`_ 1938 H$s Ymam 40gr (2) Ho$ AZwgma h_ EVXmam _m{UV H$aVo h {H$ h_mar gdm}V_ OmZH$mar Ama {ddmg Ho$ AZwgma g_wr ~r_m
H$mamo~ma _|, Mmho `j `m namoj $n go, H$ht ^r {H$E JE CnJV ~Y IM, g^r g_wr ~r_m amOd ImVo _| IM Ho$ $n _| nyUV {dH${bV
{H$ò Jò h &
belief, all expenses of management wherever incurred whether directly or indirectly in respect of Marine
Insurance Business have been fully debited in the Marine Insurance Revenue account as expenses.
Or. lr{ZdmgZ
A`j gh ~Y {ZXoeH$
G. SRINIVASAN
VU ~OmO
Qr.E_. ^grZ
{_{bX E IamV
dr.hfdYZ
Tarun Bajaj
T.M. Bhasin
Milind A Kharat
V.Harshavardhan
}
}
~r. E_. R>H$a

{dVr` gbmhH$ma
{ZXoeH$JU
B.M. Thakkar
Financial Advisor
Eg. d|H$Q>am_Z
H$nZr g{Md
Directors
S. Venkataraman
Company Secretary
H$Vo AmZX ES> nmonZ
gZXr boImH$ma
gZXr boImH$ma
gZXr boImH$ma
ICAI FRN: 000111S

ICAI FRN:001676S

ICAI FRN:001997S
grE Ama. nmonZ


grE Or. Ama. h[a

Mo / Chennai
28 Ab 2011
28th April 2011
MARINE INSURANCE REVENUE ACCOUNT
61
{d{dY ~r_m amOd ImVm 31 _mM 2011 H$mo g_m df Ho$ {bE
st
MISCELLANEOUS INSURANCE REVENUE ACCOUNT FOR THE YEAR ENDED 31 MARCH 2011
{ddaU / Particulars
A{OV r{_`_ (ew)
AZwgyMr
Schedule
Mmby df
JV df
Current Year
(A 000)
Previous Year
(A 000)
39495117
32160390
5046451
4676331
112
394332
AVaU ewH$, Am{X / Transfer fees, etc.
10097
8530
277
-128
4596453
4021486
49148507
41260938
38571363
29126546
2556694
2145378
14112553
9448250
12254
12104
132771
152833
101361
130249
-147864
-106899
-38436
4787
55300695
40913248
-6152188
347693
{d{Z_` go hm{Z /bm^ / Exchange Loss/Gain


CnJV Xmdo (ew)
H$_reZ
Commission
A` / Others
{Zdom go g~{YV IM


62
-6152188
347693
-6152188
347693


~r_m A{Y{Z`_ 1938 H$s Ymam 40 gr (2) Ho$ AZwgma h_ EVXmam _m{UV H$aVo h {H$ h_mar gdm}V_ OmZH$mar Ama {ddmg Ho$ AZwgma
{d{dY ~r_m H$mamo~ma _|, Mmho `j `m namoj $n go, H$ht ^r {H$E JE CnJV ~Y IM g^r {d{dY ~r_m amOd ImVo _| IM Ho$ $n _| nyUV {dH${bV
{H$ò Jò h &
belief, all expenses of management wherever incurred whether directly or indirectly in respect of Miscellaneous
Insurance Business have been fully debited in the Miscellaneous Insurance Revenue account as expenses.
Or. lr{ZdmgZ
A`j gh ~Y {ZXoeH$
G. SRINIVASAN
VU ~OmO
Qr.E_. ^grZ
{_{bX E IamV
dr.hfdYZ
Tarun Bajaj
T.M. Bhasin
Milind A Kharat
V.Harshavardhan
}
}
~r. E_. R>H$a

{dVr` gbmhH$ma
{ZXoeH$JU
B.M. Thakkar
Financial Advisor
Eg. d|H$Q>am_Z
H$nZr g{Md
Directors
S. Venkataraman
Company Secretary
H$Vo AmZX ES> nmonZ
gZXr boImH$ma
gZXr boImH$ma
gZXr boImH$ma
ICAI FRN: 000111S

ICAI FRN:001676S

ICAI FRN:001997S
grE Ama. nmonZ


grE Or. Ama. h[a

Mo / Chennai
28 Ab 2011
28th April 2011
MISCELLANEOUS INSURANCE REVENUE ACCOUNT
63
bm^ Ama hm{Z ImVm 31 _mM 2011 H$mo g_m df Ho$ {bE
st
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31 MARCH, 2011
{ddaU / Particulars
AZwgyMr
Schedule
Mmby df
JV df
Current Year
(A 000)
Previous Year
(A 000)
MmbZ bm^ / (hm{Z )
OPERATING PROFIT/(LOSS)
ApZ ~r_m
234077
1997474
-252299
-538092
-6152188
347693
3465527
3019042
4022072
3510652
38996
36627
1356185
8373396
-30634
3594
-117849
-80252
9767
9087
105820
114736
80785
97782

H$a Ho$ nyd bm^ (B) = (A - Am)
47889
144947
1308296
8228449
Fire Insurance
g_wr ~r_m
Marine Insurance
{d{dY ~r_m
Miscellaneous Insurance
{Zdoe go Am` / INCOME FROM INVESTMENTS

{Zdoe H$s {~H s na bm^
Profit on sale of investments
A` Am` / OTHER INCOME

n[agnpV`m| H$s {~H s na bm^ / hm{Z VWm A` Am`
Profit/Loss on sale of assets and other incomes

mdYmZ (H$a Ho$ Abmdm)
PROVISIONS (Other than taxation)
{Zdoe Ho$ Ad_y`Z hoVw
For diminution in the value of investments
gpXY G$Um| hoVw / For doubtful debts

A` IM / OTHER EXPENSES
Ja ~r_m H$mamo~ma go g~{YV IM
Expenses other than those related to Insurance Business
~Q>Q>o ImVo _| S>mbm J`m Aemo` G$U

Bad Debts written off
{Zdoe r{_`_ na n[aemoYZ
m{gV {Zdoe go g~{YV ~Q>Q>o ImVo _| S>mbr J`r am{e`m
Profit Before Tax (C ) = (A - B)
64
H$a Ho$ {bò mdYmZ / Provision for Taxation

JV dfm] go g~{YV H$a / Taxation relating to earlier years
H$a Ho$ ~mX bm^ ( B ) / Profit After Tax (D)
{d{Z`moOZ / APPROPRIATIONS
df Ho$ XmamZ AXm {H$`m AV[am bm^me /
Interim Dividends Paid during the year
Vm{dV A{V_ bm^mm /Proposed final dividend

bm^mm {dVaU H$a / Dividend distribution tax
gm_m` Ama{j{V H$mo AV[aV / Transferred to General Reserve
JV df go AJo{fV eof bm^ /
Balance of profit brought forward from last year
7000
1160000
-4152
-9453
1305448
7077902
300000
1420000
48555
241211
956893
5416691
VwbZ n H$mo AV[aV eof
Balance carried forward to Balance Sheet
[V eoà goo _yb Ama _X Am` ( )
Basic and diluted earnings per share (Rs.)
8.70
47.19
Or. lr{ZdmgZ
A`j gh ~Y {ZXoeH$
G. SRINIVASAN
Tarun Bajaj
T.M. Bhasin
Milind A Kharat
V.Harshavardhan
}
}
~r. E_. R>H$a

{dVr` gbmhH$ma
{ZXoeH$JU
B.M. Thakkar
Financial Advisor
Eg. d|H$Q>am_Z
H$nZr g{Md
Directors
S. Venkataraman
Company Secretary
H$Vo AmZX ES> nmonZ
gZXr boImH$ma
gZXr boImH$ma
gZXr boImH$ma
ICAI FRN: 000111S

ICAI FRN:001676S

ICAI FRN:001997S
grE Ama. nmonZ


grE Or. Ama. h[a

Mo / Chennai
28 Ab 2011
28th April 2011
PROFIT AND LOSS ACCOUNT
VU ~OmO
Qr.E_. ^grZ
{_{bX E IamV
dr.hfdYZ
65
31 _mM 2011 Ho$ {XZ na H$m VwbZn
st
BALANCE SHEET AS AT 31 MARCH 2011
{ddaU / Particulars
AZwgyMr
Schedule
Mmby df
JV df
Current Year
(A 000)
Previous Year
(A 000)
{Z{Y`m| H$m moV

SOURCES OF FUNDS
moà nyOr
SHARE CAPITAL
1500000
1500000
40979332
40024458
47162518
48084542
89641850
89609000
152667223
134482953
4036716
4535649
10
864213
1083782
11
9877966
8437558
12
19332354
23557734
29210320
31995292
Ama{j{V`m Ama A{Yeof

RESERVES AND SURPLUS
ghr _y` n[adVZ ImVm

FAIR VALUE CHANGE ACCOUNT
G$U
BORROWINGS
Hw$b / TOTAL
{Z{Y`m| H$m Cn`moJ
APPLICATION OF FUNDS
{Zdom
INVESTMENTS
G$m
LOANS
Wm`r n[agnpV`m
FIXED ASSETS
Mmby n[agnpV`m
CURRENT ASSETS
ZH$X Ama ~H$ eof

CASH AND BANK BALANCES
A{J_ Ama A` n[agnpV`m

ADVANCES AND OTHER ASSETS
Cn Hw b (A)
SUB TOTAL (A)
66
Mmby Xo`VmE
CURRENT LIABILITIES
13
67312969
53608200
mdYmZ / PROVISIONS
14
29823653
28880476
97136622
82488676
-67926302
-50493384
89641850
89609000
Cn Hw$b (Am) / SUB TOTAL (B)

ew Mmby n[agnpV`m (B) = (A-Am)
NET CURRENT ASSETS (C)=(A-B)
{d{dY IM
({OZH$mo ~Q>Q>o ImVo _| Zht S>mbm J`m `m g_m`mo{OV Zht {H$`m J`m)
MISCELLANEOUS EXPENDITURE
(to the extent not written off or adjusted)
15
bm^ Ama hm{Z ImVo _| Zm_o eof

DEBIT BALANCE IN PROFIT & LOSS ACCOUNT
Hw$b / TOTAL
Or. lr{ZdmgZ
A`j gh ~Y {ZXoeH$
G. SRINIVASAN
Tarun Bajaj
T.M. Bhasin
Milind A Kharat
V.Harshavardhan
}
}
~r. E_. R>H$a

{dVr` gbmhH$ma
{ZXoeH$JU
B.M. Thakkar
Financial Advisor
Eg. d|H$Q>am_Z
H$nZr g{Md
Directors
S. Venkataraman
Company Secretary
H$Vo AmZX ES> nmonZ
gZXr boImH$ma
gZXr boImH$ma
gZXr boImH$ma
ICAI FRN: 000111S

ICAI FRN:001676S

ICAI FRN:001997S
grE Ama. nmonZ


grE Or. Ama. h[a

Mo / Chennai
28 Ab 2011
28th April 2011
BALANCE SHEET
VU ~OmO
Qr.E_. ^grZ
{_{bX E IamV
dr.hfdYZ
67
AmH$p_H$ Xo`VmE / CONTINGENT LIABILITIES

H$. g.
{ddaU / Particulars
Sl. No.
1
(A 000)
21402.00
1008040.68
716850.18
ey` / NIL
ey` / NIL
ey` / NIL
ey` / NIL
2737794.45
3821893.00
ey` / NIL
ey` / NIL
ey` / NIL
ey` / NIL
3767237.13
4538743.18
nm{bgr Ho$ VhV Xmdo {Oh| H$nZr G$U Zht _mZVr

Claims other than those under policies,
not acknowledged as debts
JV df / Previous Year
(A 000)
Am{eH$ $n _| MwH$Vm {Zdoe

Partly Paid-up Investments
Mmby df / Current Year
eof ~r_mboIZ A{^~YZ (eoà Ama G$U nm| Ho$ g~Y _|)
Underwriting commitments outstanding
(in respect of Shares and Securities)
H$nZr mam `m CgH$s Amoa go Xr JB {V^y{V`m

Guarantees given by or on behalf of the Company
{ddmXmnX dYm{ZH$ _mJ / Xo`Vmò {OgH$m mdYmZ

Zht {H$`m J`m
Statutory demands / liabilities in dispute,
not provided for
nwZ~u_m Xo`VmAm| Ho$ {bò mdYmZ Zht {H$`m J`m h

Reinsurance obligations to the extent
not provided for
H$nZr H$s Amoa go Omar gmI n
Letters of credit given on behalf of the Company
Hw$b / Total
{dVr` {ddaU _| gp_{bV AZwgy{M`m

SCHEDULES FORMING PART OF FINANCIAL STATEMENTS
(./Rs.'000)
AZwgyMr - 1 - A{OV r{_`_ (ew) / SCHEDULE - 1 - PREMIUM EARNED (NET)

{ddaU / Particulars
ApZ / Fire
Mmby df
JV df
g_wr / Marine
Mmby df JV df
{d{dY / Misc.
Mmby df
JV df
Hw$b / Total
Mmby df
JV df
Current
Year
Current
Year
Current
Year
Current
Year
Previous
Year
Previous
Year
Previous
Year
Previous
Year
`j H$mamo~ma go r{_`_
Premium from Direct business written
8053252 6522542 5015288 4535619 50698033 41332367 63766573 52390528
OmoS>| drH$V nwZ~u_m na r{_`_

Add : Premium on Reinsurance accepted
823453
554952
183338
186848
6336262
5148087
7343053 5889887
KQ>mE A{nV nwZ~u_m na r{_`_

Less : Premium on Reinsurance ceded
3775878 3020913 2707284 2212752 13457016 11145186 19940178 16378851
ew r{_`_
Net Premium
5100827 4056581 2491342 2509715 43577279 35335268 51169448 41901564
Ag_m Omo{I_m| Ho$ {bò {Z{Y _| n[adVZ hoVw g_m`moOZ

Adjustment for change in reserve for
unexpired risks
-571705
47968
-39272 -392706 -4082162 -3174878 -4693139 -3519616
Hw$b A{OV r{_`_ (ew)

Total Premium Earned (Net)
68
4529122 4104549 2452070 2117009 39495117 32160390 46476309 38381948
{ddaU / Particulars
ApZ / Fire
Mmby df
JV df
Current
Year
Previous
Year
g_wr / Marine
Mmby df JV df
Current
Year
Previous
Year
{d{dY / Misc.
Mmby df
JV df
Current
Year
Previous
Year
(A '000)
Hw$b / Total
Mmby df
JV df
Current
Year
Previous
Year
AXm {H$ò Jò Xmdo / CLAIMS PAID

4235414 3503991 2450786 2776437 36538596 32656935 43224797 38937363
`j H$mamo~ma / Direct Business
OmoS>| drH$V nwZ~u_m/Add: Reinsurance accepted 238215 395227 1760203 123776 3006266 1405806 5004684 1924809
1404026 1012152 2406298 963241 7943435 5774209 11753758 7749602
KQ>mE A{nV nwZ~u_m/Less : Reinsurance ceded
3069604 2887066 1804691 1936972 31601428 28288532 36475723 33112570
AXm {H$ò Jò ew Xmdo/Net Claims paid
OmoS>| df H$s g_m{ na ~H$m`m Xmdo -`j
Add: Claims Outstanding at the end of the year-Direct 8198487 6923448 5166270 4869284 39979259 37478669 53344016 49271401
OmoS>| df H$s g_m{ na ~H$m`m Xmdo-drH$V nwZ~u_m

Add:ClaimsOutstandingattheendoftheyear-RIAccepted
404043
520076
369095
293007 16807089
9906287 17580227 10719370
KQ>mE df H$s g_m{ na ~H$m`m Xmdo -A{nV nwZ~u_m

Less: Claims outstanding at the end of the year-RI Ceded 4975948 3861174 3434674 3428104 15427780 12996323 23838401 20285601
OmoS>| df H$s g_m{ na ~H$m`m - ew

Add: Claims Outstanding at the end of the Year-Net
3626582 3582350 2100692 1734187 41358568 34388632 47085842 39705169
KQ>mE df Ho$ Ama^ _| ~H$m`m Xmdo - `j

Less: Outstanding claims at the
beginning of the year - Direct
6923448 6523900 4869284 4436211 37478669 39789744 49271401 50749855
KQ>mE df Ho$ Ama^ _| ~H$m`m Xmdo - drH$V nwZ~u_m

Less: Claims outstanding at the
beginning of the year - RI Accepted
520076
747772
293007
364354
9906287
6005163 10719370 7117289
OmoS>| df Ho$ Ama^ _| ~H$m`m Xmdo - A{nV nwZ~u_m

Add: Claims outstanding at the
beginning of the year - RI Ceded
3861175 2782986 3428103 3314560 12996323 12244287 20285601 18341833
KQ>mE df Ho$ Ama^ _| ~H$m`m Xmdo - ew

Less: Claims outstanding at the
beginning of the year - Net
3582350 4488686 1734187 1486005 34388634 33550619 39705171 39525310
CnJV Xmd| (ew) / Claims Incurred (Net)
3113836 1980730 2171195 2185154 38571363 29126546 43856394 33292430
AZwgyMr - 3 - H$_reZ (ew) / SCHEDULE - 3 - COMMISSION (NET)

{ddaU / Particulars
AXm {H$`m J`m H$_reZ / COMMISSION PAID
`j / Direct
OmoS>| drH$V nwZ~u_m na H$_reZ
Add : Commission on Reinsurance accepted
KQ>mE A{nV nwZ~u_m na H$_reZ
Less : Commission on Reinsurance ceded
ew H$_rmZ / Net Commission
ApZ / Fire
Mmby df
JV df
g_wr / Marine
Mmby df
JV df
Current
Year
Previous
Year
Current
Year
473634
473634
402782
402782
351031
351031
93363
90458
24242
542975
537381
24022
-44141
Previous
Year
{d{dY / Misc.
Mmby df
JV df
Current
Year
378971 3374635
378971 3374635
26489
(A '000)
Hw$b / Total
Mmby df
JV df
Previous
Year
Current
Year
3075837
3075837
4199300 3857590
4199300 3857590
456816
Previous
Year
339211
614932
731879
240605
177251 1157152
1545391
1940732 2260023
134669
228209 2556694
2145378
2715385 2329446
ZmoQ> `{X H$moB bm^ / H$_reZ hmo Vmo drH$V nwZ~u_m `m A{nV nwZ~u_m AmH$S>m| Ho$ gmW gp_{bV H$amZm h &
Note: The Profit/Commission, if any, are to be combined with the Re-insurance accepted or Re-insurance ceded figures.
`dgm` m H$aZo Ho$ {bE CnJV `` (gH$b) H$m {ddaU / Break-up of the expenses (Gross) incurred to procure business.
EOoQ> / Agents
Xbmb / Brokers
{ZJ_r` EOogr / Corporate Agency
ao\$ab / Referral
275043
70997
239756
60826
186648
161452
161124 2338468
215202
753597
2117346
684405
2800159 2518226
986046 960433
119529
8065
473634
100716
1484
402782
2830
101
351031
2626
262580
18
19990
378971 3374635
257131
16955
3075837
384939 360473
28156
18457
4199300 3857590
AZwgyMr - 2 - CnJV Xmdo (ew) / SCHEDULE - 2 - CLAIMS INCURRED (NET)
69
AZwgyMr - 4 - ~r_m H$mamo~ma go g~{YV MmbZ IM

SCHEDULE - 4 - OPERATING EXPENSES RELATED TO INSURANCE BUSINESS
g_wr / Marine
{d{dY / Misc.
ApZ / Fire
Mmby df
JV df Mmby df
JV df
Mmby df
JV df
{ddaU / Particulars
Current
Year
Previous
Year
Current
Year
Previous
Year
Current
Year
Previous
Year
(A '000)
Hw$b / Total
Mmby df
JV df
Current
Year
Previous
Year
H$_Mm[a`m| H$m doVZ Ama H$`mU {hV bm^

Employees' remuneration and Welfare benefits
1774011 1065702 779616
533281 11392999 7002324 13946626
8601307
`mm, n[adhZ Ama Mmby dmhZ IM

Travel, conveyance and vehicle running expenses
55281
47626
24294
23832
355023
312935
434598
384393
3883
2765
1706
1383
24938
18168
30527
22316
48329
42394
21239
21215
310377
278556
379945
342165
16122
12980
7085
6495
103538
85286
126745
104761
19152
17424
8417
8719
122996
114487
150565
140630
23308
24604
10243
12313
149689
161667
183240
198584
4978
2986
2188
1494
31972
19619
39138
24099
2754
2570
1210
1286
17689
16887
21653
20743
205
159
90
80
1319
1045
1614
1284
24548
17646
10788
8830
157653
115943
192989
142419
3607
4583
1585
2294
23168
30116
28360
36993
{ejU IM
Training Expenses
{H$am`m, Xa| Ama H$a

Rents, rates & taxes
_a_V
Repairs
_wU Ama boIZ gm_Jr

Printing and Stationery
gMma
Communication
{d{Y Ama `dgm{`H$ ^ma

Legal and Professional charges
boIm narjH$ Ho$ ewH$, IM Am{X

Auditors' fees, expenses etc.
A) boImnarjH$ Ho$ $n _|
a) as Auditor
Am) gbmhH$ma Ho$ $n _| `m A` {H$gr h{g`V _|

b) as Advisor or in any other capacity, in respect of
1.
H$a g~{YV _m_bo
2.
~r_m _m_bo
Taxation matters
Insurance matters
3.
~YZ godmE VWm

Management services; and
B) A` {H$gr h[g`V
c) Any other capacity
{dkmnZ Ama OZ gMmaU

Advertisement and publicity
`mO Ama ~H$ ^ma

Interest and Bank Charges
r{_`_ ImVo na godm H$a

Service Tax on Premium A/c
75
33
481
589
A`
Others
164473
114139
74256
63945
1162787
936709
1401516
1114793
40162
53953
17650
26998
257924
354508
315736
435459
_y`mg
Depreciation
Hw$b
Total
70
2180889 1409531 960401
712166 14112553 9448250 17253842 11569946
(A '000)
AZwgyMr - 5 - eoà nyOr / SCHEDULE - 5 - SHARE CAPITAL
Mmby df / Current Year JV df / Previous Year
{ddaU / Particulars
A{YH$V nyOr
Authorised Capital
200000000 gm`me eoà òH$ . 10/- H$m
200000000 Equity Shares of Rs. 10/- each
2000000
2000000
1500000
1500000
1500000
1500000
1500000
1500000
1500000
1500000
Issued Capital
150000000 gm`me eoà - òH$ . 10/- H$m (eoà r{_`_ ImVm Ama gm_m` Ama{jV Ho$ nyOrH$aU go
^wJVmZ {H$ò Jò 14,63,74,857 gm`me eoà òH$ .10/- H$m ~moZg eoà Bg_| gp_{bV h )
150000000 Equity Shares of Rs. 10/- each (includes 14,63,74,857 Equity Shares of Rs. 10/- each
issued as Bonus Shares by Capitalisation of General Reserve and Share Premium Account)
A{^XV nyOr
Subscribed Capital
150000000 gm`me eoà - òH$ . 10/- H$m (eoà r{_`_ ImVm Ama gm_m` Ama{jV Ho$ nyOrH$aU go
150000000 Equity Shares of Rs.10/- each (includes 14,63,74,857 Equity Shares of Rs.10/- each
_mJ nyOr
Called up Capital
150000000 gm`me eoà òH$ .10/- H$m (eoà r{_`_ ImVm Ama gm_m` Ama{jV Ho$ nyOrH$aU go
150000000 Equity Shares of Rs.10/- each (includes 14,63,74,857 Equity Shares of Rs.10/- each
KQ>mE AXV _mJ

Less : Calls unpaid
OmoS>| g_nhV gm`me eoà (_ybV XV am{e )

Add : Equity Shares forfeited (Amount originally paid up)
KQ>mE g_ _y` gm`me eoàm| H$s dmngr IarX

Less : Par Value of Equity Shares bought back
KQ>mE ma{^H$ IM
Less : Preliminary Expenses
KQ>mE IM _| ~r_mboIZ `m eoàm| Ho$ AmXmZ na H$_reZ `m Xbmb H$_reZ em{_b h

Less : Expenses including commission or brokerage on Underwriting or subscription of Shares
Hw$b / Total
AZwgyMr - 5A - eoàYmaU H$m {V_mZ / SCHEDULE - 5A - PATTERN OF SHARE HOLDING

(~YZ mam `Wm _m{UV) / (As certified by the Management)
eoàYmaH$ / Shareholder
moàm| H$s g`m
Am{Yn` %
moàm| H$s g`m
No. of Shares
% of Holding
No. of Shares
Am{Yn` %
% of Holding
gdYH$ / Promoters
^maVr`
Indian
^maV gaH$ma
Government of India
^maV gaH$ma Ho$ Zm_m[H$V gX`
Nominees of Govt. of India
Hw$b / Total
149999970
149999970
100
30
150000000
100
30
100
150000000
100
{ZJ{_V nyOr
71
(A '000)
AZwgyMr - 6 - Ama{j{V`m VWm A{Yeof / SCHEDULE - 6 - RESERVES & SURPLUS

{ddaU / Particulars
nyOr Ama{jV
Capital Reserve
13589
13589
39988852
34572161
956893
40945745
5416691
39988852
8744
8628
nyOr n[aemoYZ Ama{jV

Capital Redemption Reserve
eoà r{_`_
Share Premium
gm_m` Ama{jV
General Reserve
OmoS>|o bm^ Ama hm{Z ImVo go AV[aV

Add : Transfer from Profit & Loss Account
_hm{dnpV Ama{jV / Catastrophe Reserve

A` Ama{j{V`m - {Zdoe Ama{jV
Other Reserves - Investment Reserve
{dXoer _wXm go[fV Ama{jV - df Ho$ Ama^ _|

Foreign Currency Translation Reserve- Opening
13390
41528
df Ho$ XmamZ OmoS>|o / Additions during the year

df Ho$ AV m| / Closing Balance
bm^ Ama hm{Z ImVo _| eof bm^
-2136
-28138
11254
13390
40979332
40024458
Balance of Profit in Profit & Loss Account
Hw$b / Total
(A '000)
AZwgyMr - 7 - CYma / SCHEDULE - 7 - BORROWINGS

{ddaU / Particulars
G$U n / ~mS>
Others (to be specified)
Hw$b / Total
Debentures / Bonds
~H$
Banks
{dVr` gWm`|
Financial Institutions
A` ({ddaUmZwgma)
(A '000)
AZwgyMr - 8 - {Zdoe / SCHEDULE - 8 - INVESTMENTS

{ddaU / Particulars
{Zdoe
INVESTMENTS
XrKH$mbrZ {Zdoe
LONG TERM INVESTMENTS
gaH$mar {V^y{V`m Ama gaH$mar `m^yV ~mS> {Og_| gaH$mar hS>r ^r

Government securities and Government guaranteed bonds including Treasury Bills
33110086
26755764
10475
10475
A` AZw_mo{XV {V^y{V`m
Other Approved Securities
72
{ddaU / Particulars
A` {Zdoe / Other Investments

moà / Shares
(aa)
gm`me / Equity
(bb)
A{Y_mZ/ Preference
(b)
`yMwAb \$S> / Mutual Funds
(c)
`wn XVmdoO> / Derivative Instruments
(d)
G$Un VWm ~mS> / Debentures and Bonds
(e)
A` {V^y{V`m> / Other Securities
(f)
{Z`{V H$nZr / Subsidiaries
62904103
60126401
8045
3072
15501877
11993236
762
762
78414787
72123470
31069435
26584526
3966253
4103479
146571036
129577715
2763086
2381205
(g) {Zdoe n[agnpV`m - gnXm / Investment Properties - Real Estates
AmYma^yV Vmm gm_m{OH$ mo _| {Zdoe

Investments in Infrastructure and Social Sector
Ja AZw_mo{XV {Zdoe
Other than Approved Investments
Cn Hw$b / SUB TOTAL

AnH$mbrZ {Zdoe / SHORT TERM INVESTMENTS
gaH$mar {V^y{V`m Ama gaH$mar `m^yV ~mS> {Og_| gaH$mar hS>r ^r em{_b h
Government Securities and Government guaranteed bonds including Treasury Bills
A` AZw_mo{XV {V^y{V`m / Other Approved Securities

A` {Zdoe / Other Investments
(a)
moà / Shares
(aa)
gm`me / Equity
(bb)
A{Y_mZ/ Preference
(b)
`yMwAb \$S> / Mutual Funds
(c)
`wn XVmdoO> / Derivative Instruments
(d)
G$Un VWm ~mS> / Debentures and Bonds
(e)
A` {V^y{V`m - dm{U` H$mJOmV / Other Securities - Commercial Papers
(f)
{Z`{V H$nZr / Subsidiaries
(g)
{Zdoe n[agnpV`m - gnXm / Investment Properties - Real Estates
AmYma^yV Vmm gm_m{OH$ mo _| {Zdoe / Investments in Infrastructure and Social Sector
4973
642597
50005
1104000
213977
145707
188748
1892304
457703
1436517
1055439
4280
1010892
6096187
4905239
152667223
134482954
ImVm _y` / Book Value
78100752
59448863
~mOma _y` / Market Value
78236991
60764211
Ja AZw_mo{XV {Zdoe / Other than Approved Investments

Cn Hw$b / SUB TOTAL
Hw$b / TOTAL
ZmoQ> / NOTE :
Ja A{H$V gm`me {V^y{V`m Ed `wn XVmdoOm| hoVw H$nZr H$m gnym {Zdoe
Aggregate amount of Company's Investment other than
listed equity securities and derivative instruments
(a)
73
(A 000)
AZwgyMr - 9 - G$U / SCHEDULE - 9 - LOANS

{ddaU / Particulars
G$U / LOANS
{V^y{V Ho$ AmYma na dJuH$aU / SECURITYWISE CLASSIFICATION
{V^y{V / Secured
(A) gnpV Ho$ ~YH$ na
(a)
On mortgage of Properties
(AA) ^maV _| / (aa) In India
488993
534445
3284944
3630519
262779
370685
4036716
4535649
1619043
1768034
(AmAm) ^maV Ho ~mha / (bb) Outside India

(Am) moà, ~mS, gaH$ma H$s {V^y{V`m| _|o
(b)
On Shares, Bonds, Govt. Securities
(B) A` (gaH$ma mam `m^yV G$U)
(c)
On Others (Govt. Guaranteed Loans)
A{V^yV / Unsecured
Hw$b / TOTAL
G$UH$Vm Ho$ AmYma na dJuH$aU / BORROWER-WISE CLASSIFICATION
(A) Ho$r` VWm am` gaH$ma|
(a)
Central and State Governments
(Am) ~H$ VWm {dVr` gWm`|
(b)
Banks and Financial Institutions
75000
(B) {Z`{V H nZr
(c)
Subsidiaries
(B) Ammo{JH$ CnH_
(d)
Industrial Undertakings
(C) hS>H$mo H$mo G$U
(e)
Loans to HUDCO
(D) H$_Mmar Amdmg G$U
(f)
Employees Housing Loan
Hw$b / TOTAL
[ZnmXZ Ho$ AmYma na dJuH$aU / PERFORMANCE-WISE CLASSIFICATION
(A) _mZH$ G$U
(a)
751772
830130
32000
100000
1633901
1762485
4036716
4535649
3603616
3863468
23618
20623
Loans classified as standard
(AA) ^maV _|
(aa)
In India
(AmAm) ^maV Ho ~mha

(bb)
Outside India
(Am) mdYmZ a{hV Ja {ZnmXZ G$U
(b)
Non-performing loans less provisions
(AA) ^maV _|
(aa)
In India
(AmAm) ^maV Ho ~mha

(bb)
Outside India
mdYmZ / Provision
Hw$b / TOTAL
n[andVm Ho$ AmYma na dJuH$aU / MATURITY-WISE CLASSIFICATION
(A) AnH$mbrZ /(a) Short Term
(Am) XrKH$mbrZ / (b) Long Term
409482
651558
4036716
4535649
54809
25849
3981907
4509800
Hw$b / TOTAL
4036716
NOTES :
ZmoQ> 1. Ja {Znm{XV G$U H$m mdYmZ - . 409482.
2. .433100 G$U g{XY _mZm J`m h Ama CV G$U hoVw 1) Provision against non-performing loans - Rs. 409482.
2) Loans considered doubtful are Rs. 433100 and amount of
. 409482 am{e H$m mdYmZ
provision created against such loans - Rs. 409482
74
4535649
(A '000)
AZwgyMr - 10 - Wm`r n[agn{V`m / SCHEDULE - 10 - FIXED ASSETS
{ddaU / Particulars
JwS>{db / Goodwill
A`j / Intangibles
gnpV-dm{_d
Land-Freehold
OmoS>| /AVaU H$Q>mVr /AVaU
Ama^ _|
AV _|
Deductions/
Transfers
Closing
Upto last
year
For the
year
10401
35800
127043
36141
30528
8329
3694
3694
2642
2642
616
38
Opening
Additions/
Transfers
152442
As at
year end
Previous
Year
58340
68703
116301
3694
3694
654
1988
2026
On sales/
To date
adjustments
nQ>Q>o H$s gnpV

Land-Leasehold
nQ>Q>o H$s gnpV`m

Leasehold Properties
114415
970
1514
113871
47217
1408
48625
65246
67198
^dZ / Building
Ag~m~ & gOm gm_Jr
571350
17509
1848
587011
340282
14534
354816
232195
231068
Furniture & Fittings
250238
14400
1649
262989
216691
10764
1055
226400
36589
33547
Information Technology
1720011
Equipment
1765773 1507178 169998
gyMZm mmo{JH s CnH$aU

dmhZ / Vehicles
H$m`mb` CnH$aU
Office Equipment
80474
34712
34519
1642657
123116
212833
317621
50650
52792
315479
105720
60944
34638
132026
183453
211901
92163
6954
2661
96456
68754
4687
2143
71298
25158
23409
347066
10856
1142
356780
251386
16867
1031
267222
89558
95680
118911
80742
6020
2364
84398
34513
27297
3750649 2654727 315788
84079
2886436
864213
1024954
58828
2886436
864213
1083782
2654727 1083782
1239639
A`-{dwV CnH$aU
Others - Electrical
Equipments
- A` n[agnpV`m
- Other Assets
Hw$b / Total
Mmby H$m`
108039
13641
2769
3679681
205855
134887
Work-in-Progress
58828
58828
Hw$b `moJ / Grand Total 3738509

JV df / Previous Year 3895958
205855
193715
3750649 2654727 315788
84079
668055
825504
3738509 2656319 435457
437049
(A '000)
AZwgyMr - 11 - ZH$X Ed ~H$ eof / SCHEDULE - 11 - CASH AND BANK BALANCES

{ddaU / Particulars
ZH$X (MoH$, S>m\$Q> Ama Q>mn H$mo {_bmH$a) / Cash (including cheques, drafts and stamps)
~H$ eof / Bank Balances
O_m mmVo / Deposits Accounts
AnH$mbrZ (12 _hrZo Ho$ AXa Xo`) / Short-term (due within 12 months)
A` / Others
Mmby ImVo / Current Accounts
A` - _mJW ofUmE / Others - Remittance in transit
g{j Zmo{Q>g Ama _mJo OmZodmbr am{e / Money at Call and Short Notice
~H$m| Ho$ gmm / With Banks
A` gWmZ Ho$ gmm / With other Institutions
Hw$b / Total
CngoV 2 d 3 _| Ja amQ>r`H$V ~H$m| Ho$ gmW eof gp_{bV h
Balances with non-scheduled banks included in 2 and 3 above
1720659
1773982
5178685
3781735
2474831
2391865
319504
313092
184287
176884
9877966
8437558
17523
3389
_y`mg / DEPRECIATION
ew bmH$ / NET BLOCK
{~Hs na/
JV df VH$ df Ho {bE
df Ho$ AV na JV df
g_m`moOZ VmarI VH$
bmJV / gH$b bmH$ / COST / GROSS BLOCK
75
AZwgyMr - 12 - A{J_ Ama A` n[agnpV`m

(A '000)
SCHEDULE - 12 - ADVANCES AND OTHER ASSETS

{ddaU / Particulars
A{J_ / ADVANCES
AnUH$mar H$n[Z`m| Ho$ nmg Ama{jV O_m
Reserve Deposits with ceding companies
{Zdoe Ho$ {bò AmdoXZ am{e / Application money for investments

nyd AXm`Jr / Prepayments
{ZXoeH$m| /A{YH$m[a`m| H$mo A{J_ / Advances to Directors/Officers
A{J_ H$a ^wJVmZ Ama gmoV na H$mQ>m J`m H$a (H$a Ho$ {bò ew mdYmZ)
Advance tax paid and Taxes deducted at Source (Net of provision for taxation)
A` / Others
H$_Mmar A{J_ Ama G$U (. 842 g{XY _mZmJ`m) / Staff Advances and Loans (Rs.842 considered doubtful)
A` n[agnpV`m / OTHER ASSETS
{Zdoe go Cnm{OV Am` / Income accrued on investments
~H$m`m r{_`_ (. 228 g{XY _mZm J`m) / Outstanding Premiums (Rs.228 considered doubtful)
{dXer EO|{g`m| H$m eof / Foreign Agencies Balances
A{^H$VmAm| H$m eof (. 215 g{XY _mZm J`m) / Agents' Balances (Rs. 215 considered doubtful)
nwZ~r_mHVmAm| g{hV ~r_m Ed nwZ~u_m H$mamo~ma H$aZodmbr A` H$n{Z`m| go m` am{e`m
(A 728614 g{XY _mZm J`m)
5224562
11063281
60548
55800
564
749126
233225
210881
214484
6245680
11566790
3025270
2263445
246681
260964
557
165
3716505
4236344
125761
126399
5971899
5103624
13086673
11990944
19332354
23557734
Due from other entities carrying on insurance business including reinsurers

(A 728614 considered doubtful)
^maVr` [aOd ~H$ Ho$ nmg O_m (~r_m A{Y{Z`_ 1938 H$s Ymam 7 Ho$ AVJV)
Deposit with Reserve Bank of India (Pursuant to Section 7 of Insurance Act, 1938)
{Z`{V / {Z`H$ go m` am{e`m / Due from Subsidiaries / holding
A` / Others
O_m, A{J_ Ama A` boIm (A 28291 g{XY _mZm J`m)
Deposits, Advances & Other Accounts (A 28291 considered doubtful)
AVa H$m`mb` g_m`moOZ (ew) / Inter Office Adjustments (Net)

Hw$b (A + Am) / TOTAL (A + B)
AZwgyMr - 13 - Mmby Xo`VmE / SCHEDULE - 13 - CURRENT LIABILITIES

{ddaU / Particulars
A{^H$VmAm| H$o eof / Agents' Balances
A` ~r_m H$n{Z`m| H$mo Xo` am{e / Balances due to other insurance companies
A{nV nwZ~u_m na O_m am{e / Deposits held on re-insurance ceded
A{J_ m r{_`_ / Premiums received in advance
A{d{Z`mo{OV r{_`_ / Unallocated Premium
{d{dY boZXma / Sundry Creditors
{Z`{V / {Z`H$ H$n{Z`m| H$mo Xo` / Due to subsidiaries / holding companies
~H$m`m Xmd| / Claims Outstanding
A{YH$m[a`m| / {ZXoeH$m| H$mo Xo` / Due to Officers/Directors
A` / Others
^yVnyd eoàYm[a`m| H$s {Z{Y / Former Shareholders Fund
AVa H$m`mb` g_m`moOZ (ew ) / Inter Office Adjustments (Net)
Am{Y` dgybr / dmngr r{_`_ /dmngr {~H$s H$a H$s am{e dmng Zht H$s JB h* &
Excess Collection / Refund Premium/ST Refundable not refunded*
Omar MoH$ H$mo ~r_mYmaH$ / nm{bgrYmaH$ mam O_m Zht {H$`m J`m* &
Cheques issued not encashed by insured/policyholders*
Hw$b / TOTAL
* dfdma {ddaU AZwbZH$ Ho$ $n _| VwV h/ Agewise details furnished as Annexure
76
(A '000)
629703
6605111
172021
1004746
497919
3352610
148944
864422
10974359
9037803
47085842
39705172
1330
1330
205212
634645
67312969
53608200
(A '000)
AZwgyMr - 14 - mdYmZ / SCHEDULE - 14 - PROVISIONS

{ddaU / Particulars
Ag_m Omo{I_m| Ho$ {bò Ama{j[V

Reserve for Unexpired Risk
25925774
21232634
300000
1420000
48555
241211
42903
118505
1816000
1513000
67500
67500
2373234
Vm{dV bm^me hoVw

For proposed dividends
bm^me {dVaU na H$a

For dividend distribution tax
Provision for diminution in value of other than actively traded equities
AdH$me H$m ZH$XrH$aU hoVw

For Leave Encashment
H$_Mmar AnH$mbrZ gw{dYm Ho$ {bE mdYmZ

Provision for Employee Short term benefits
doVZ ~H$m`m hoVw

For Wage Arrears
G$U, {Zdoe Ama A` n[agnpV`m| hoVw

For Loans, Investments and Other Assets
Hw$b / TOTAL
1622921
1914392
29823653
28880476
AZwgyMr - 15 - {d{dY IM
({OZH$mo ~Q>Q>o ImVo _| Zht S>mbm J`m `m g_m`mo{OV Zht {H$`m J`m)
SCHEDULE - 15 - MISCELLANEOUS EXPENDITURE
(To the extent not written off or adjusted)
{ddaU / Particulars
(A' 000)
eoà/G$U n Ho$ Omar _| XmZ H$r J`r Ny>Q>

Discount allowed in issue of shares/debentures
A` ( {ddaUmZwgma ) / Others (to be specified)
Hw$b / TOTAL
g{H` $n go Z `mnm[aV gm`me Ho$ Ad_y`Z hoVw mdYmZ
77
`wZmBQ>oS> B{S>`m B`yaog H$nZr {b{_Q>oS>

nOrH aU g`m : 545. ~r {d {d Ho$ gmW ZdrH aU H r$ VmarI : 10 _mM 2010
31 _mM 2011 H$mo g_m df Ho$ {bò _Xdma {d^mOZ [anmoQ>
ApZ / Fire
Mmby df
JV df
{ddaU / Particulars
Current Year Previous Year
A{OV r{_`_ / PREMIUM EARNED

`j H$mamo~ma go r{_`_ / Premium from Direct business written
OmoS>| drH$V nwZ~u_m na r{_`_ / Add : Premium on Reinsurance accepted
KQ>mE A{nV nwZ~u_m na r{_`_ / Less : Premium on Reinsurance ceded
ew r{_`_ / Net Premium
Ag_m Omo{I_m| Ho$ {bò {Z{Y _| n[adVZ hoVw g_m`moOZ /Adjustment for change in reserve for unexpired risks
nr{_`_ H$s H$_r (`{X H$moB hmo) / Premium Deficiency (if any)
A{OV r{_`_ (ew) / PREMIUM EARNED (NET)
CnJV Xmd| / CLAIMS INCURRED
`j AXm {H$ò Jò Xmdo / Direct Claims paid
OmoS>| drH$V nwZ~u_m / Add: Reinsurance accepted
KQ>mE A{nV nwZ~u_m / Less : Reinsurance ceded
AXm {H$ò Jò ew Xmdo / Net Claims paid
OmoS>| df H$s g_m{ na ~H$m`m Xmdo - `j / Add : Claims Outstanding at the end of the year - Direct
OmoS >| df H$s g_m{ na ~H$m`m Xmdo - drH$V nwZ~u_m / Add: Claims Outstanding at the end of the year - RI Accepted
KQ>mE df H$s g_m{ na ~H$m`m Xmdo- A{nV nwZ~u_m / Less: Claims outstanding at the end of the year - RI Ceded
OmoS>| df H$s g_m{ na ~H$m`m - ew / Add: Claims Outstanding at the end of the Year - Net
KQ>mE df Ho$ Ama^ _| ~H$m`m Xmdo- `j / Less: Outstanding claims at the beginning of the year - Direct
KQ>mE df Ho$ Ama^ _|~H$m`m Xmdo- drH$V nwZ~u_m / Less: Claims outstanding at the beginning of the year - RI Accepted
OmoS>| df Ho$ Ama^ _| ~H$m`m Xmdo - A{nV nwZ~u_m / Add: Claims outstanding at the beginning of the year - RI Ceded
KQ>mE df Ho$ Ama^ _| ~H$m`m Xmdo ew / Less: Claims outstanding at the beginning of the year - Net
H$_reZ / COMMISSION
`j / Direct
Hw b (A) / TOTAL (A)
OmoS>| drH$V nwZ~u_m na H$_reZ / Add : Commission on Reinsurance accepted
KQ>mE A{nV nwZ~u_m na H$_reZ / Less : Commission on Reinsurance ceded
H$_rmZ (ew) / COMMISSION (NET)
8053252
6522542
823453
554952
3775878
3020913
5100827
4056581
-571705
47968
4529122
4104549
4235414
3503991
238215
395227
1404026
1012152
3069604
2887066
8198487
6923448
404043
520076
4975948
3861174
3626582
3582350
6923448
6523900
520076
747772
3861175
2782986
3582350
4488686
3113836
1980730
473634
402782
473634
402782
93363
90458
542975
537381
24022
-44141
Note : The Profit/Commission, if any, are to be combined with the Re-insurance accepted or Re-insurance ceded figures.
`dgm` m H$aZo Ho$ {bE CnJV `` (gH$b) H$m {ddaU &

Break-up of the expenses (Gross) incurred to procure business.
EOoQ> / Agents
Xbmb / Brokers
ao\$ab / Referral
78
Eg. d|H$Q>am_Z / S. Venkataraman

H$nZr g{Md / Company Secretary
275043
239756
70997
60826
119529
100716
8065
1484
473634
402782
~r. E_. R>H$a / B.M. Thakkar

{dVr` gbmhH$ma / Financial Advisor

Registration No. : 545. Date of Renewal with IRDA : 10th March 2010
SEGMENTAL REPORT - BREAK-UP FOR THE YEAR ENDED 31st MARCH 2011
g_wr nmoV / Marine Hull
Mmby df
JV df
Current Year Previous Year Current Year Previous Year
2734436
2753421
2280852
1782198
Hw$b g_wr / Marine Total

Mmby df
JV df
Hw$b {d{dY / Misc. Total

Mmby df
JV df
5015288
50698033
Current Year Previous Year Current Year Previous Year
4535619
41332367
19398
12943
163939
173905
183338
186848
6336262
5148087
651932
549170
2055352
1663582
2707284
2212752
13457016
11145186
2101902
2217194
389440
292521
2491342
2509715
43577279
35335268
57646
-195470
-96918
-197236
-39272
-392706
-4082162
-3174878
2159548
2021724
292522
95285
2452070
2117009
39495117
32160390
2121889
2185465
328896
590972
2450786
2776437
36538596
32656935
6532
17415
1753671
106361
1760203
123776
3006266
1405806
618832
438736
1787466
524505
2406298
963241
7943435
5774209
1509590
1764144
295101
172828
1804691
1936972
31601428
28288532
2776374
2800146
2389896
2069138
5166270
4869284
39979259
37478669
63669
45121
305427
247886
369095
293007
16807089
9906287
1282799
1513338
2151875
1914766
3434674
3428104
15427780
12996323
1557243
1331929
543448
402258
2100692
1734187
41358568
34388632
2800146
1793226
2069138
2642985
486928
4436210
37478669
39789744
45121
43277
247886
321077
293007
364354
9906287
6005163
1513338
809738
1914766
2504822
3428103
3314560
12996323
12244287
1331929
1026765
402258
459240
1734187
1486005
34388634
33550619
1734904
2069308
436291
115846
2171195
2185154
38571363
29126546
319388
353837
31643
25134
351031
378971
3374635
3075837
319388
353837
31643
25134
351031
378971
3374635
3075837
3867
2666
20375
23823
24242
26489
339211
614932
99496
90720
141109
86531
240605
177251
1157152
1545391
223759
265783
-89090
-37574
134669
228209
2556694
2145378
173685
150394
12964
10730
186648
161124
2338468
2117346
143783
201795
17668
13407
161452
215202
753597
684405
1829
1642
1001
984
2830
2626
262580
257131
91
11
13
101
18
19990
16955
319388
353837
31643
25134
351031
378971
3374635
3075837
Or. lr{ZdmgZ / G. SRINIVASAN

A`j gh ~Y {ZXoeH$ / Chairman-cum-Managing Director
SEGMENTAL REPORT
g_wr Zm^ma / Marine Cargo

Mmby df
JV df
79

_moQ>a {ZOr j{V / Motor OD
Mmby df
JV df
{ddaU / Particulars

H$_reZ / COMMISSION
`j / Direct
10888360
9068571
61
1088930
907484
9799491
8161087
-819202
-663017
8980289
7498070
4871644
4147953
497883
446510
4373761
3701443
2110793
1717437
4754
4754
214191
169940
1901356
1552251
1717437
1705919
4754
4754
169940
200116
1552251
1510557
4722866
3743137
1044519
906366
1044519
906366
22
217786
181368
826755
724998

EOoQ> / Agents
Xbmb / Brokers
ao\$ab / Referral
80

949148
788872
39709
45998
44902
63535
10759
7961
1044519
906366


_moQ>a VVr` nj nyb / Motor TP Pool _moQ>a VVr` nj Hw$b / Motor TP Total
_moQ>a VVr` nj / Motor TP

Mmby df
JV df
_moQ>a Hw$b / Motor Total

Mmby df
JV df
Mmby df
JV df
Mmby df
JV df
4124415
5794345
5073419
10351651
9197834
21240011
18266405
H$./H$_. Xm{`d / WC/Emp. Liab.

Mmby df
JV df
Current Year Previous Year Current Year Previous Year Current Year Previous Year Current Year Previous Year Current Year Previous Year
693904
539946
6645
10411
4997882
4275795
5004527
4286206
5004589
4286206
468277
423349
5794345
5073419
6262622
5496768
7351553
6404252
69390
53992
4095674
3711477
4997882
4275795
9093556
7987272
18893048
16148359
624514
485954
-192098
-238557
-327547
-415232
-519645
-653789
-1338847
-1316806
-69280
-23900
3903576
3472920
4670335
3860563
8573911
7333483
17554200
14831553
555234
462054
7601330
8443247
2795927
978925
10397257
9422172
15268901
13570125
169523
160634
4859
8524
2382504
1046020
2387363
1054544
2387363
1054544
1652382
1672017
2795927
978925
4448309
2650942
4946192
3097452
20182
18812
5953807
6779754
2382504
1046020
8336311
7825774
12710072
11527217
149341
141822
21272165
22560702
7248903
4892367
28521068
27453069
30631861
29170506
280441
259319
777
7586
16256135
9151879
10256912
9159465
16261666
9164219
4320926
4617451
7248903
4892367
11569829
9509818
11784020
9679758
21177
23144
16952016
17950837
16256135
9151879
33208151
27102716
35109507
28654967
259264
236175
22560702
26181094
4892367
3003800
27453069
29184894
29170507
30890813
259319
342691
7586
6060
9151879
5305853
9159465
5311913
9164219
5316667
4617451
5439544
4892367
3003800
9509818
8443344
9679758
8643460
23144
24586
17950837
20747610
9151879
5305853
27102716
26053463
28654967
27564020
236175
318105
4954986
3982981
9486760
4892046
14441746
8875027
19164612
12618164
172429
59892
41
21
62
1044519
906428
66761
52381
41
21
62
1044519
906428
66761
52381
2286
3644
62514
427579
64800
431223
64822
431223
82347
507342
589688
217786
771057
13878
10798
2286
-78662
62514
-79742
64800
158404
891555
566594
52883
41583
949149
788879
57511
46337
16
16
39709
46014
8409
5116
18
19
37
44902
63572
774
902
10759
7963
67
26
41
21
62
1044519
906428
66761
52381

SEGMENTAL REPORT
4557306
81

BOr{Z`[aJ / Engineering
Mmby df
JV df
{ddaU / Particulars

H$_reZ / COMMISSION
`j / Direct
4182085
3032883
575932
401837
2053403
1520786
2704615
1913934
-389993
-58500
2314622
1855434
1126683
1009795
103102
67856
349576
311760
880210
765891
3356952
2608866
210699
152895
2333634
2042735
1234016
719026
2608866
2151643
152895
144860
2042735
1684582
719026
611921
1395200
872996
245488
186887
245488
186887
121832
114277
387482
308852
-20163
-7688

EOoQ> / Agents
Xbmb / Brokers
ao\$ab / Referral
82

106526
100533
133483
81113
5117
5053
362
188
245488
186887


`pVJV XwKQ>Zm / Personal Accident
{d_mZZ / Aviation
Mmby df
JV df
Mmby df
JV df
1720489
1537674
gmd/Cnm.Xm{`d / Pub./Prod.Liab. dm` ~r_m / Health Insurance

Mmby df
Mmby df
JV df
JV df
A` / Others
Mmby df
JV df
Current Year Previous Year Current Year Previous Year Current Year Previous Year Current Year Previous Year Current Year Previous Year
294527
555379
464777
17117571
12654098
4937554
4542057
23182
16473
25668
732559
417903
225326
277797
386057
425130
84960
90155
1772399
1308591
1513929
1064483
48896
33203
1334432
1138212
470419
374622
15345173
11345507
4156184
3895477
-7847
4913
-98110
-10805
-47899
-29318
-1999833
-1625260
-130354
-115202
41049
38116
1236322
1127407
422521
345304
13345340
9720247
4025830
3780275
119087
170349
1287662
1405326
66796
51575
16642751
14656832
1857193
1632299
13896
5948
-968
501905
278426
110311
145207
400025
434281
10593
6276
1675194
1514292
431363
246129
22672
31090
887637
970077
56203
45299
14967556
13142540
1927736
1664596
37810
111246
735425
883628
254369
284652
2472032
2067282
2210369
2093170
45690
57247
654
5492
8012
21558
280368
504876
28152
100686
199938
325416
58396
90863
198689
155064
803773
578657
55348
67807
536140
563704
203985
215347
2273344
1912218
1686964
2019388
111246
202207
883628
1398430
284652
540375
2067282
2469756
2093169
1793829
57247
58300
5492
14226
21559
5855
504876
465255
100686
194275
325416
499487
90863
151050
155064
203423
578657
843424
67807
66232
563704
913169
215348
395180
1912218
2266333
2019389
1415659
10213
32665
860073
620612
44841
-134534
15328682
12788425
1595311
2268326
7616
6182
228826
199738
65374
56680
1119567
1114345
596484
553196
7616
6182
228826
199738
65374
56680
1119567
1114345
596484
553196
3204
1201
2567
149353
65664
8138
9146
87965
59849
14538
6414
180675
199274
246690
180001
2683
-1763
140861
142456
50836
50266
938892
915071
499147
438859
1286
880
124404
107910
33312
28868
709871
718003
356409
325936
6330
5302
81089
70306
28349
24711
355160
353924
101069
97919
22313
20801
3869
3090
54103
41681
131501
122032
1020
721
-156
11
433
737
7505
7309
7616
6182
228826
199738
65374
56680
1119567
1114345
596484
553196

SEGMENTAL REPORT
251039
83
31 _mM, 2011 H$mo g_m df Ho$ {bò H$e \$bmo [ddaU
CASH FLOW STATEMENT FOR THE YEAR ENDED 31st MARCH, 2011
{ddaU / Particulars
31-3-2011 (A 000)
31-3-2010 (A 000)
I. A. MmbZ H$m`m] go H$e \$bmo
I. A. Cash Flow from Operating Activities
A{J_ Am`, ew gh ~r_m g{hV nm{bgrYmaH$m| go mV r{_`_
Premium received from policyholders, including

advance receipts, net of coinsurance
A` Am` / Other Receipts

nwZ~u_mH$VmAm| H$mo AXm`Jr, ew H$_reZ Ama Xmdo
Payments to reinsurers, net of commission and claims
gh~r_mH$VmAm| H$mo AXm`Jr, ew Xmdo go m Am`
Payments to coinsurers, net of claims recovery
AXm {H$ò Jò Xmdo / Payments of claims

AXm {H$`m J`m H$_reZ Ama Xbmb H$_reZ
Payments of commission and brokerage
AXm {H$`m J`m A` MmbZ mM
Payments of other operating expenses
O_m, A{J_ Ama H$_Mmar G$U / Deposits, advances and staff loans
AXm {H$`m J`m Am` H$a (ew ) / Income tax paid (net)
AXm {H$`m J`m godm H$a (ew ) / Service tax paid (net)
A` AXm`Jr / m{`m (ew ) / Other payments/collections (net)
{dXoer {d{Z` Ho$ n[adVZ _| hB bm^ / hm{Z
Gain/Loss on Foreign Exchange Fluctuations
AgmYmaU _X Ho$ nyd H$e \$bmo
Cash flow before extraordinary activities
AgmYmaU H$m` / Extraordinary Activities

AgmYmaU H$m`m] Ho$ nMmV H$e \$bmo
Cash flow after Extraordinary Activities
AgmYmaU H$m`m] go ew H$e \$bmo
Net Cash Flow from the Operating Activities
63533341
52782705
176831
318413
5003051
-4292214
1078049
821706
-43224797
-38937363
-4070913
-3821132
-17129433
-9056126
129700
108104
-665745
-1313842
-436738
172824
644269
72140
4029
19405
5041646
-3125380
5041646
-3125380
5041646
-3125380
-142330
-631787
19818
15742
-122897279
-116049084
113627756
116971501
7480766
6224183
II. {Zdoe H$m`m] go H$e \$bmo

II. Cash Flow from the Investing Activities
WmB n[agnpV`m| H$m H$` / Purchase of fixed assets

WmB n[agnpV`m| H$s {~H$s go Am`
Proceeds from sale of fixed assets
{Zdoe H$m H ` (ew) / Purchase of investments (net)

{Zdoe H$m {~H$s _y` / Sale Value of Investments
m {H$am`m /`mO/bm^me / Rents/Interests/Dividends received
84
{Zdoe go g~{YV IM / Expenses relating to investments

{Zdoe H$m`m] go ew H$e \$bmo
Net Cash Flow from Investing Activities

III. {dVr` H$m`m] go H$e \$bmo / III. Cash Flow from the Financing Activities
eoà nyOr Ho$ {ZJ_Z go Am`
Proceeds from issuance of share capital

CYma go Am` / Proceeds from borrowing
CYma H$m nwZAXm`Jr / Repayments of borrowing
AXm {H$`m J`m `mO/bm^me / Interest/Dividends paid
{dVr` H$m`m] go ew H$e \$bmo
Net cash flow from the Financing Activities
ZH$X Ama ZH$X g_Vw` _| ew ~T>moVa
Net increase in Cash and Cash Equivalents
df Ho$ ma^ _| ZH$X Ama ZH$X g_Vw`
Cash and Cash Equivalents at the beginning of the year
df H$s g_m{ na ZH$X Ama ZH$X g_Vw`
Cash and Cash Equivalents at the end of the year
-28759
-27089
-1940027
6503466
0
0
0
-1661211
0
0
0
-1123034
-1661211
-1123034
1440408
2255052
8437558
6182506
9877966
8437558
Or. lr{ZdmgZ
A`j gh ~Y {ZXoeH$
G. SRINIVASAN
Tarun Bajaj
T.M. Bhasin
Milind A Kharat
V.Harshavardhan
}
}
~r. E_. R>H$a

{dVr` gbmhH$ma
{ZXoeH$JU
B.M. Thakkar
Financial Advisor
Eg. d|H$Q>am_Z
H$nZr g{Md
Directors
S. Venkataraman
Company Secretary
h_mao gbZ {VdoXZ Ho$ AZwgma /Vide our report of date attached
H$Vo AmZX ES> nmonZ
gZXr boImH$ma
gZXr boImH$ma
gZXr boImH$ma
ICAI FRN: 000111S

ICAI FRN:001676S

ICAI FRN:001997S
grE Ama. nmonZ


grE Or. Ama. h[a

Mo / Chennai
28 Ab 2011
28th April 2011
CASH FLOW STATEMENT
VU ~OmO
Qr.E_. ^grZ
{_{bX E IamV
dr.hfdYZ
85
31 _mM 2011 H$mo g_m df Ho$
_hdnyU boIm Zr{V`m d {dVr` {ddaU _| gp_{bV {Q>n{U`m

I. _hdnyU boIm Zr{V`m
1.
boIm nanam
VwbZ-n, bm^ Ama hm{Z ImVm, amOd ImVo, AZwgy{M`m Ama H$e \$bmo {ddaU H$nZr A{Y{Z`_ 1956 H$s Ymam 227 H$s Cn Ymam (5)
Ama ~r_m {d[Z`m_H$ Ama {dH$mg m{YH$aU (AmB.Ama.S>r.E.) A{Y{Z`_ 1999 Ho$ mdYmZ Ama ~r_m {d[Z`m_H$ Ama {dH$mg m{YH$aU
mam g_`-g_` na Omar {ZX}em| Ho$ gmW n{R>V ~r_m A{Y{Z`_ 1938 H$s Ymam 11(1E) Ho$ mdYmZm| Ho$ AZw$n V`ma {H$E JE h & CV
{ddaU H$s V`mar boIm Ho$ moX^dZ AmYma na nyd bmJV n[anmQ>r Ho$ AmYma na, H$nZr A{Y{Z`_ 1956 H$s Ymam 211 (3 gr) _| gX{^V
boIm _mZH$ Ama ~r_m {d[Z`m_H$ Ama {dH$mg m{YH$aU (~r_m H$n{Z`m| Ho$ {dVr` {ddaU Ama boIm narjm [anmoQ> H$s V`mar) {d{Z`_
2002, H$m AZwnmbZ bmJy gr_m VH$, H$aVo hE Ama ^maV _| gm_m` ~r_m CmoJ _| M{bV n{V`m|, Hw$N> AndmXm| H$o AZwgma V`ma
{H$`m J`m h &
2.
AmH$bZ H$m `moJ

m` drH$V boIm Zr{V Ho$ AZwgma V`ma {H$`m J`m {dVr` {ddaU H$s Anojm h {H$ ~YZ H$mo n[agn{V`m|, Xo`VmAm|, Am` Ama `` Ed
AmH$p_H$ Xo`VmAm| Ho$ H$Q>Z Ho$ g~Y _| gy{MV am{e na hmoZodmbo ^md Ho$ {bE AmH$bZ Ama AJrH$ma {H$`m OmE & dmV{dH$ n[aUm_ Ama
AmH$bZ d AJrH$ma _| AVa hmoJm & {dVr` {ddaU H$s VmarI H$mo Cn`wV Vdm| Ama n{apQ>`m| Ho$ ~YZ _y`mH$Z Ho$ AmYma na {dVr`
{ddaU _| AmH$bZ d AJrH$ma H$mo gp_{bV {H$`m J`m & `{X boIm AZw_mZ _| H$moB gemoYZ hmo Vmo CgH$m A{^km{ Cg VmarI go Mmby Ama
AmZodmbr Ad{Y _| {H$`m OmEJm &
3.
r{_`_
3.1
`j H$mamo~ma
3.1 .1. Omo{I_ H$s drH${V na r{_`_ Am` H$s _m`Vm Xr OmVr h & òH$ ^mJ Ho$ {bE qM{hV {H$E JE r{_`_ Ho$ ^mJ H$m
{V{Z{Yd H$aZodmbo AZ{OV r{_`_ {OgH$m `moJXmZ nadVu boImd{Y _| hmoZm h, {OgH$s JUZm g_` {d^mOZ Ho$ AmYma
na hmoZr h, Ho$ {bE {Z{Y H$mo Ama{jV {H$`m J`m h & òH$ IS> Ho$ {bE Ja A{OV r{_`_ hoVw Ag_m Omo{I_ Ho$ {bE
Ama{j{V Ho$ $n _| Ama{j{V H$s OmVr h &
3.1.2.
3.2
3.3
86
df Ho$ XmamZ Omar nR>mH$Zm| Ho$ AmYma na r{_`_ dmngr H$m AmH$bZ {H$`m OmVm h &
nwZ~u_m
3.2.1.
{dXomr nwZ~u_m H$n{Z`m| go 31_mM VH$ m {ddaU Ama ^maVr` nwZ~u_m H$n{Z`m| go g~{YV df H$s boIm g_m{ VH$ m
{ddaU H$mo boIm _| AmH${bV {H$`m J`m h&
3.2.2.
nwZ~u_m H$m A`mnU MmbZ H$m`mb`m| go m gyMZm / {ddaU Ho$ AmYma na {H$`m J`m h & Ohm nyam {ddaU CnbY
Zht h dhm CnbY {ddaU Ho$ AmYma na nwZ~u_m A`mnU H$m _y`mH$Z {H$`m J`m h &
3.2.3.
nyb A`mnU/drH${V boIm ~XrH$aU VH$ Or.AmB.gr.(nyb ~YH$) go m {ddaU Ho$ AZwgma AmVH$dmXr nyb aoQ>am| Ama
_moQ>a VVr` nj nyb aoQ>am| go g~{YV r{_`_, Xmdo, godm ^ma, {Zdoe Am` d `` H$m AmH$bZ {H$`m OmVm h& AmVH$dmXr
nyb/_moQ>a VVr`nj nyb gog~{ YV h_mao A`mnU H$m r{_`_ Xmdo, godm ^ma Ama `` AmH$bZ 31 _mM VH$ {H$`m J`m &
Ag_m Omo{I_ Ho$ {bE Ama{j{V

Ag_m Omo{I_ Ho$ {bE Ama{j{V ew r{_`_ na 50% h naVw g_wr nmoV `dgm` Ama AmVH$dmX Ho$ {bE ew r{_`_
na 100% h &
SIGNIFICANT ACCOUNTING POLICIES AND

NOTES FORMING PART OF FINANCIAL STATEMENTS AS ON 31st MARCH 2011
I.
SIGNIFICANT ACCOUNTING POLICIES
1.
ACCOUNTING CONVENTION :
The Balance Sheet, the Profit and Loss Account, Revenue Accounts, Schedules and Cash Flow Statement are
drawn in accordance with the provisions of Section 11 (1A) of the Insurance Act, 1938, read with provisions of
Sub-section (5) of Section 227 of the Companies Act, 1956 and the Insurance Regulatory and Development
Authority (IRDA) Act, 1999 along with the instructions issued by IRDA from time to time. The said statements
are prepared on historical cost convention and on accrual basis of accounting, comply with the Accounting
Standards referred to in Section 211(3C) of the Companies Act, 1956 to the extent applicable, and also with the
Insurance Regulatory and Development Authority (Preparation of Financial Statements and Auditor's Report of
Insurance Companies) Regulations 2002, and conform to the practices prevailing in the General Insurance
Industry in India except as otherwise stated.
2.
USE OF ESTIMATES:
3.
PREMIUM :
3.1. Direct Business :
3.1.1 Premium income is recognised on assumption of risk. A reserve for unearned premium for each
segment representing that part of the recognized premium attributable to the succeeding
accounting periods, calculated on time apportionment basis is created. This forms part of the
unexpired risk reserves.
3.1.2 Premium refunds are accounted on the basis of endorsements passed during the year.
3.2. Reinsurance :
3.2.1 The returns from foreign reinsurance companies to the extent received upto 31st March and the
returns from Indian Reinsurers received upto finalisation of accounts of the relevant accounting
year are incorporated.
3.2.2 Reinsurance cessions are made on the basis of advices / returns received from the operating
offices. Wherever full particulars are not available, reinsurance cessions are estimated on the
basis of information available.
3.2.3 Pool Cessions / Acceptances: Premium, Claims, Service charges, Investment income and
expenses in respect of Terrorism Pool retro and Motor TP Pool retro are accounted as per the
statements received from GIC (Pool Administrator) upto finalisation of accounts. Premium,
Claims, Service charges and expenses of our cessions in respect of Terrorism Pool / Motor TP Pool
st
are accounted upto 31 March.
3.3. Reserve for Unexpired Risk :
The Reserve for unexpired risk are made at 50% of net premium except in the case of Marine Hull
business and Terrorism, where it is made at 100% of net premium.
The preparation of financial statements in conformity with generally accepted accounting principles requires
management to make estimates and assumptions that affect the reported amount of assets, liabilities, revenues
and expenses and disclosure of contingent liabilities on the date of the financial statements. Actual results may
differ from those estimates and assumptions. The estimates and assumptions used in the accompanying financial
statements are based upon management's evaluation of the relevant facts and circumstances as on the date of
the financial statements. Any revision to accounting estimates is recognized prospectively in current and future
periods.
87
4.
Xmdm
4.1
`j H$mamo~ma
A) df Ho$ AV VH$ m gdojU [anmoQ>, brS>am| H$s gyMZm, Ama boIm H$s g_m{ VH$ JmhH$m| Ama A` gmoVm| mam CnbY H$am`r J`r
gyMZm, nyd AZw^d Ama A` bmJy {d{Y Ho$ AmYma na ~H$mò Xmdm| Ho$ {bE AZw_m{ZV Xo`Vm H$m mdYmZ {H$`m J`m h &
Am) {d{Z_` _| n[adVZ g{hV Xmdm| go g~{YV g_V IM Xmdm ImVo _| {bIm J`m h &
B) AnhMmZ _moQ>a VVr` nj Xmdm| Ho$ g~Y _| H$nZr H$r Xo`Vm AZw_m{ZV Xo`Vm Ho$ 100% VH$ H$m mdYmZ {H$`m J`m h & A`
_m_bmo _| AZw_m{ZV Xo`Vm H$s 1/3 am{m VH$ H$m mdYmZ {H$`m J`m h &
4.2
nwZ~u_m
{dXoer AmV[aH$ Amd{V`m| Ho$ g~Y _|, ~H$mò Xmdm| Ho$ {bò AZw_m{ZV Xo`Vm H$m AmH$bZ boIm H$s g_m{ VH$ m dmV{dH$ {ddaU
VWm ~r_mH$H$ {ZYmaU na AmYm[aV h &
4.3
CnJV bo{H$Z gy{MV Zht {H$E JE Xmdm| VWm CnJV bo{H$Z n`m $n go Agy{MV Xmdm| Ho$ g~Y _| ~r_mH$H {ZYmaU Ho$ AmYma na
{bIm OmVm h &
4.4
C~a Ama A` dgy{b`m :

Xmdm| H$s dgybr Ama C~a H$s {~H s Ho$ ~mX, Cgo Xmdm| Ho$ {hgm~ _| {b`m J`m h &
5.
~YZ IM
5.1
IM H$m {d^mOZ
~YZ IM H$mo amOd ImVo _| gH$b `j r{_`_ Ed drH$V nwZ~u_m Ho$ AmYma na ApZ VWm {d{dY H$mamo~ma Ho$ {bE òH$ H$mo
100 {VeV Ed g_wr H$mamo~ma Ho$ {bE 75 {VeV ^m[aVm XoVo hE ~mQ>o JE h & nm{bgr Q>n na hE IM H$mo grYo g~{YV amOd ImVo
_| {b`m J`m h & df Ho$ ma^ _| nm{b{gYmaH$m| VWm eoàYmaH$m| H$s {Z{Y Ho$ AmYma na {Zdoe go g~{YV IM, Ogo gwa{jV A{âjm,
`mO d bm^me dgybr ~H$ ^ma Am{X H$mo amOd Ed bm^-hm{Z ImVm| Ho$ ~rM ~mQ>m J`m h &
5.2
_y`mg
5.2.1
H$nZr A{Y{Z`_ 1956 H$s AZwgyMr XIV Ama Am` H$a {Z`_ 1962 _| Xr JB A{YH$V_ Xam| na [Wa gnpV`m| na
H$Q>mVr _y` Umbr Ho$ AmYma na Ad_y`Z {H$`m J`m h &
5.2.2
180 {XZ go H$_ Ad{Y Ho$ {bò pma gnpV _| OmoS> CnamoV bmJy Xa na 50% Ad_y`Z {H$`m J`m h &
df Ho$ XmamZ
{~[H$V/ZQ> H$s JB, pma gnpV na Ad_y`Z H$m mdYmZ Zht {H$`m J`m h &
5.3
5.2.3
^y{_ Ama ^dZ XmoZm| Ho$ {bò g`wV $n go Ad_y`Z {H$`m J`m h My{H$ Xa nWH$ $n go {ZYm[aV Zht h &
5.2.4
A{YJhU df _| {Og n[agnpV H$m dmV{dH$ _y` A 5,000 go A{YH$ Zht hmo CZH$m ImVm _y` .1 {V n[agnpV
_mZVo hE H$Q>mVr _y` na {bIm J`m h&
5.2.5
brO hmoS> n[agnpV`m| H$mo brO H$s Ad{Y na n[aemo{YV {H$`m J`m h &
H _Mmar gw{dYm
^maVr` gZXr boImH$ma gWm mam Omar boIm _mZH$ 15 (n[aemo{YV) Ho$ AZwgma H$nZr Zo H$_Mmar gw{dYm H$m AmH$bZ {H$`m h :
5.3.1
^{d` {Z{Y
^{d` {Z{Y EH$ {Z`V AeXmZ `moOZm h My{H$ H$nZr nyd {ZYm[aV Xam| na {Z`V _m{gH$ AeXmZ nWH$ Q>Q> H$mo ^wJVmZ
H$aVr h & H$nZr H$m Xm{`d {ZYm[aV AeXmZ VH$ gr{_V h &
88
4.
CLAIMS :
4.1. Direct Business :

a) Estimated Liability for outstanding claims at the year end are based on survey reports, advices of
Leaders, information provided by clients and other sources upto the date of finalisation of accounts,
past experience and other applicable laws.
b) All expenses directly attributable to claims including exchange fluctuations are debited to claims.
c)
In respect of unidentified motor third party claims outstanding for more than one year, provision
is made at the rate of 100% of the estimated liability. In other cases, provision is made at the
rate of 1/3rd of the estimated liability.
4.2. Reinsurance :
Liability for outstanding claims in respect of Foreign Inward Acceptances is based on Actuarial Valuation
and actual returns received up to finalisation of accounts.
4.3
Claims Incurred But Not Reported (IBNR) and Incurred But Not Enough Reported (IBNER) is made
on the basis of actuarial valuation.
4.4
SALVAGE AND OTHER RECOVERIES :

Recoveries under claims and disposal of salvage are accounted on realisation and are credited to claims.
EXPENSES OF MANAGEMENT :
5.1. Apportionment of expenses :
Expenses of Management are apportioned to the Revenue Accounts on the basis of gross direct premium
plus reinsurance accepted, giving weightage of 75% for Marine business and 100% for Fire and
Miscellaneous business. Expenses relating to policy stamps and reinsurance are directly taken to
respective Revenue Accounts. Expenses relating to Investment, such as safe custody, collection of
interest/dividend, bank charges etc., are apportioned between Revenue Accounts and Profit and Loss
Account based on policyholders' and shareholders' funds as at the beginning of the year.
5.2. Depreciation :
5.2.1 Depreciation on fixed assets (except Software considered under intangible assets), is charged
on written down value method at the higher of the rates specified in the Income Tax Rules, 1962
and those specified in Schedule XIV to the Companies Act, 1956.
5.2.2 Depreciation is provided at 50% of the applicable rates on additions to fixed assets held for
less than 180 days. No depreciation is provided on assets sold, discarded or destroyed during
the year.
5.2.3 Depreciation is provided on Land and Building as a whole where separate costs are not
ascertainable.
5.2.4 Assets whose actual cost does not exceed five thousand rupees are written off in the year of
acquisition, by retaining A 1 per asset as book value.
5.2.5 Cost of Lease Hold properties have been amortised over the period of Lease.
5.3. Employee Benefits :
The Company has adopted the policy of accounting employee benefits in accordance with Accounting
Standard 15 (Revised) issued by Institute of Chartered Accountants of India as under:
5.3.1 Provident Fund:
Provident Fund is a defined contribution scheme as the Company pays fixed monthly
contribution at pre-determined rates to a separate trust. The obligation of the Company is
limited to such fixed contribution.
5.
89
5.3.2
godm{ZdV Ho$ nMmV gw{dYm

n|eZ VWm CnXmZ H$_Mmar H$`mU Xm{`d h VWm {dVr` df H$s g_m{ na ~r_mH$H$ _y`mH$Z Ho$ AmYma na {Z{Y H$s
`dWm H$s OmVr h & H$nZr BZ `moOZmAm| Ho$ {bE {Z{Y H$s `dWm H$aVr h Ama BZH$mo nWH$ `mgr g^mbVr h &
5.3.3
A{OV Nw>Q>Q>r ZH$XrH$aU

g{MV A{OV Nw>Q>Q>r ZH$XrH$aU godm{ZdpV Ho$ g_` {H$`m Om gH$Vm h, BgHo$ {bò ~r_mH$H$ _y`mH$Z Ho$ AmYma na {Z{Y
H$s `dWm H$s J`r h &
5.3.4
AnH$mbrZ gw{dYm
H$_Mmar mam XmZ H$s J`r godm H$s g_m{ Ho$ nMmV 12 _mh Ho$ AXa AnH$mbrZ H$_Mmar gw{dYm Ogo Eb.Q>r.Eg.,
{M{H$gm gw{dYm Am{X Omo nyUV Xo` h, CgHo$ {bò AZw_mZ Ho$ AmYma na {Z{Y H$s `dWm H$s J`r h &
6.
{dXoer _wm H$s gm{ / n[adVZ

6.1
7.
90
{dXoer emIm H$s {XZm{H$V VwbZ n Ho$ Am` d `` VWm n[agnpV d Xm{`d Ama ^maVr` MmbZ _| {dXoer _wm
gm{ {ZZ{b{IV H$ma go {H$`m J`m h
6.1.1.
{V_mhr Xam| Ho$ AmgV Xa na Am` d `` &
6.1.2.
VwbZ n H$s {XZmH$ {dVr` _Xm| H$mo Cg VmarI na M{bV {d{Z_` Xam| na n[ad{VV {H$`m J`m h &
6.2
MmbZ H$s g_m{ VH$, {dXoer emIm (Ja g_o{H$V) go g~{YV eof H$s gm{ Ho$ H$maU hE _wm AVa H$mo {dXoer _wm gm{ Ama{j{V _|
g{MV {H$`m J`m h & Ja g_o{H$V {dXoer MmbZ H$s g_m{ na _wm AVa g{MV am{e Omo b{~V Ama MmbZ go g~{YV hmo, H$mo Cg df H$s
g_m{ Ho$ Am` `m `` Ho$ $n _| _mZm OmEJm &
6.3
^maVr` H$mamo~ma _| {dXoer _wm gm{ go CnJV AVa g~{YV amOd ImVo / bm^ d hm{Z ImVo _| Ogm ^r bmJy hmo, _| _m`Vm Xr J`r h &
G$U d {Zdoe
7.1
eoà, ~mS , G$U nm| Ho$ H ` / {~H r H$ama Ho$ {XZmH$ na {b`m J`m h & (`mnma VmarI)
7.2
{Zdoe Ho$ bmJV _| ~Yn gofU H$a Ohm bmJy hmo, A{YJhU na r{_`_, Ama {Zdoe H$s m{ Ho$ {bE CnJV A` `j IM Ama
Cg na A{OV ew H$_reZ/ewH$ gp_{bV h &
7.3
gm`me eoà {Oh| XrKH$mbrZ {Zdoe Ho$ $n _| _mZm J`m h H$mo N>moS>H$a VwbZ n H$s VmarI go 12 _hrZm| Ho$ AXa n[and {Zdoem| H$mo
AnH$mbrZ {Zdoe Ho$ $n dJuH$V {H$`m J`m h & g_V A` {Zdoem| H$mo XrKH$mbrZ {Zdoem| Ho$ $n _| dJuH$V {H$`m J`m h &
7.4
An Ad{Y _wm ~mOma XVmdoO Ogo O_m _mU-n, dm{U` H$mJO Ama gr~rEbAmo, {Og na H$ama Ho$ g_` Ny>Q> {X`m J`m, Ch| ~Q>Q>o
_y` na AmH${bV {H$E JE h &
7.5
{dH ` / _mJ {dH$n na {dMma H$aVo hE A{Y_m{ZV AmgV bmJV na AmYm[aV r{_`_ H$m n[aemoYZ eof n[addVm Ad{Y Ho$ {bE,
{Zdoem| H$m df g{hV Ama n[aemoYZ df H$mo N>moS>H$a n[aemo{YV {H$`m J`m h
7.6
g{H$` ~mOma _| g{H ` $n go `mnm[aV gm`me eoàm| _| {Zdo{eV eoàm| H$m CH${WV _y` _mM _| EZ Eg B / ~r Eg B Ho$ `yZV_
_y` na _y`m{H$V {H$`m J`m h & gyMr~ Ama g{H$` $n go `mnm[aV H$n{Z`m| Ho$ gm`me eoàm| _| {Zdo{eV eoàm H$m _y`, bXZ
Q>mH$ EgM|O Ho$ `yZV_ _y`, na _y`m{H$V {H$`m J`m h & Am bm^ / hm{Z H$mo ghr _y` n[adVZ ImVo _| _m`Vm Xr JB h &
7.7
{dXoer H$n{Z`m| Ho$ eoàm| g{hV g{H$` ~mOma _| Ja gyMr~ / H$_ `mnm[aV gm`me eoàm| H$mo bmJV na _y`m{H$V {H$`m J`m h &
O~ {dbo{fV _y`, _yb bmJV go H$_ hmo V~ Ad_y`Z Ho$ {bò mdYmZ {H$`m J`m h Ohm {dbo{fV _y` ZH mam_H$m hmo Vmo ImVm
_y` na 100% H$m mdYmZ {H$`m J`m h &
5.3.2 Post Employment Benefits

Pension and Gratuity liabilities are defined benefit obligations and are provided for on the
basis of an actuarial valuation made at the end of the financial year. The schemes are funded by
the Company and are managed by separate Trusts.
5.3.3 Encashment of Earned Leave
Accumulated Earned Leave (EL), which is encashable at the time of retirement, is provided for
based on actuarial valuation.
5.3.4 Short Term Benefits
Short term employee benefits which fall due wholly within twelve months after the end of the
period in which the employees render the related service such as Leave Travel Subsidy (LTS),
Medical Benefits, etc., are provided on the basis of estimates.
6.
TRANSLATION/CONVERSION OF FOREIGN CURRENCIES :

6.1
Items of income and expenditure, Monetary items as at the Balance Sheet date of foreign branch and
foreign currency transactions in Indian operations are translated as under:
6.1.1. Items of income and expenditure at the quarterly average rates.
7.
6.2
Exchange differences on account of translation of the balances relating to foreign branch (non-integral)
is accumulated in a Foreign Currency Translation Reserve until the closure of the operation. On the
closure of this non-integral foreign operation, the cumulative amount of the exchange differences which
have been deferred, will be recognized as income or as expenses in the year of such closure.
6.3
The difference in translation arising out of foreign currency transaction in Indian operations is
recognized in the relevant Revenue Accounts / Profit and Loss Account as applicable.
LOANS & INVESTMENT :

7.1
Purchase and sale of shares, bonds and debentures are accounted for on the date of contract (Trade Date).
7.2
The cost of investment includes Securities Transaction Tax (wherever applicable), premium on
acquisition and other direct expenses incurred for the acquisition of the investment and is net of
commission/fee earned thereon.
7.3
Investments maturing within 12 months from the Balance Sheet date are classified as Short Term
Investments except in respect of Equity Shares which are treated as Long Term Investments. All other
investments are classified as Long Term Investments.
7.4
Money market instruments such as Certificate of Deposit, Commercial Papers and CBLO which are
discounted at the time of contract, are accounted at their discounted value.
7.5
Investments in debt securities including Government Securities and redeemable Preference Shares are
shown at cost subject to amortisation. The premium, based on weighted average cost is amortised over
the residual period of maturity, including the years of investment and excluding the year of redemption,
by considering put/call option.
7.6
Investment in Equity shares that are actively traded, are valued at lower of the last quoted prices in
NSE / BSE, in the month of March. Investments in Equity shares of companies outside India that are
quoted and actively traded are valued at last quoted price at London Stock Exchange. The unrealised
gains/losses are recognised in Fair Value Change account.
7.7
Investments in Unlisted/Thinly traded equity shares including shares held in companies incorporated
outside India are valued at cost and provision is made for diminution in value of such investments when
break-up value is lower than the cost. In case the break-up value is negative, provision is made @ 100%
of book value.
6.1.2. Monetary items as at the Balance Sheet date are converted at the exchange rates prevailing
at that date.
91
7.8
A) ew n[agnpV _y` Kmo{fV H$aZodmbo `yMwAb \$S> Ho$ `w{ZQ>m| _| {Zdo{eV `w{ZQ>m| H$mo {Z{Y mam ew n[agn{V _y` VwbZ n
H$s VmarI na {ZYm[aV {H$`m J`m h VWm Am bm^ / hm{Z H$mo ghr _y` n[adVZ ImVo _| _m`Vm Xr J`r h &
Am) d|Ma H$m{nQ>b \$S> {Zdoe H$mo bmJV na {ZYm[aV {H$`m J`m h Ama {Zdoe Ho$ Ad_y`Z hoVw mdYmZ {H$`m J`m h Ohm ew
n[agnpV _y` VwbZ n H$s VmarI na Ho$ bmJV go H$_ hmo & & `{X ew n[agnpV _y` VwbZ n H$s VmarI na CnbY Zht hmo
Vmo VwbZ n Ho$ Amg nmg H$s VmarI H$mo CnbY ew n[agnpV _y` {b`m OmEJm &
7.9
hm{Z A{^kmV h
7.9.1.
H$nZr Ho$ gm`me eoàm| _| Ohm VrZ nyddVu dfm] Ho XmamZ {ZaVa hm{Z CnJV h Ama g~{YV nyOr _| hm{Z hB h `m Ohm
JV VrZ dfm] Ho$ {bE boIm nar{jV dm{fH$ boImE CnbY Zhr h &
7.9.2.
{Zdoem| H$mo {ZZ{b{IV H$ma go {ZYmaU {H$`m J`m h
7.9.3.
7.9.4.
1)
g{H ` $n go `mnm[aV gm`me eoàm| H$mo CZHo$ ~mOma _y` na {bIm OmEJm &
2)
Ja g{H ` $n go `mnm[aV gm`me eoàm| H$mo `maodma _y` na {bIm OmEJm Ama Ohm `maodma _y` G$Um_H$ h, dhm
òH$ H$nZr H$mo 1/- nò Ho$ _y` na {bIm OmEJm &
H$nZr, AmB.Ama.S>r.E. mam n[agnpV`m| Ho$ dJuH$aU, Am` H$m A{^km{ Ama G$U/A{J_/G$U nm| hoVw mdYmZ Ho$ g~Y _|
{ZYm[aV _mZXS> H$m AZwnmbZ H$aZr h &
A{J_ H$s H${V H$mo N>moS>H$a A{Y_mZVm eoàm| Ho$ {bE 100% VH$ Wm`r Ad_y`Z H$s `dWm H$s J`r h &
Wm`r Ag_y`Z {ZZ{b{IV H$ma go AmH$bZ {H$`m J`m h :
A) A{Y_mZ bm^me bJmVma VrZ dfm] Ho$ {bE ^wJVmZ Zht {H$`m J`m (`m )
Am) n[andVm am{e VrZ dfm] Ho$ {bE Am h (`m )
8.
B)
H$nZr _| VrZ nyddVu dfm] Ho$ XmamZ hm{Z hB h VWm {OgH$s nyOr _| Am{eH$ / nyU $n go hm{Z hB h (`m )
B)
Ohm VrZ nyddVu dfm] Ho$ {bE boIm nar{jV dm{fH$ boImE CnbY Zht h &
7.10
hm{Z H$m AmH$bZ {Zdoem| Ho$ g^m[aV AmgV A{H$V _y` Ho$ AmYma na {H$`m J`m h &
7.11
bm^me Am` (A{V_ bm^me H$mo N>moS>H$a) H$mo Kmo{fV df Ho$ Am` Ho$ $n _| ImVo _| {b`m J`m h & eoà Ama G$U n go Am` Omo
Amn{VOZH$ hmo / {OgH$r {dVaU b{~V hmo CZH$s dgybr na AmH$bZ {H$`m J`m h & {dVr` df Ho$ 31 _mM H$mo `m CgHo$ nyd gn
hB {ZXoeH$ _S>b ~R>H$ _| Kmo{fV Ho$ AmYma na AV[a_ bm^me H$mo ImVo _| {b`m J`m h d ~mX _| dgyb {H$`m J`m h &
7.12
d|Ma H$m{nQ>b \$S> Ho$ amOd H$mo Am` Ho$ AmYma na _m`Vm Xr J`r h &
7.13
^{d` _| `mO H$s hm{Z hoVw m j{Vny{V am{e H$mo {dVr` df _| drH$V gr_m Am` Ho$ $n _| _m`Vm Xr J`r h VWm eof H$mo g~pYV
dfm] _| Am~Q>Z hoVw A{J_ _| m `mO ImVo _| {b`m J`m h &
7.14
df Ho$ ma^ _| nm{bgrYmaH$m| {Z{Y Ama eoàYmaH$m| H$s {Z{Y Ho$ AmYma na {Zdoe Am`, {Zdoe H$s {~H s / m{ na bm^ `m hm{Z Ja
{Zn{XV {Zdoe Ho$ {bE mdYmZ, G$U MwH$mZo H$m bmJV Ama ~Q>Q>o ImVo _| S>mbr J`r / Ad{b{IV am{e, H$mo amOd Ama bm^ Ama hm{Z
ImVo _| {d^m{OV {H$`m J`m h &
A)
[ma n[agnpV`m
[Wa n[agnpV`m _y`mg Ho$ nMmV bmJV na AmH {bV h &
92
7.8
a) Investment in units of Mutual funds, are valued at Net Asset Value as at the Balance Sheet date
as declared by the funds and unrealized gains / losses are recognized in Fair Value Change Account.
b) Investments in Venture Capital Fund are valued at cost. Provision is made for diminution in value
of such investments where Net Asset Value as at the Balance Sheet date is lower than cost.
Wherever Net Asset Value as on Balance Sheet date is not available, latest available Net Asset
Value nearer to Balance Sheet date is considered.
7.9
Impairment is recognised in :
7.9.1. Equity shares of companies which have been continuously incurring losses during three
immediately preceding years and the capital of which has been partially or fully eroded, or
where the audited annual accounts for the three immediately preceding years are not available.
7.9.2. Investments are written down as under:
1) Equity shares which are actively traded, are written down to their market value.
2) Equity shares other than actively traded, are written down to the break up value and where
the break up value is negative, are written down to A 1/- per company.
7.9.3. The Company follows the prudential norms prescribed by the Insurance Regulatory and
Development Authority as regards asset classification, recognition of income and provisioning
pertaining to loans / advances / debentures.
7.9.4. In respect of preference shares other than those in the nature of advances, provision for permanent
diminution is made to the extent of 100%.
a) The preference dividend is not paid for three consecutive years (or)
b) The maturity proceeds have not been received for three consecutive years (or)
c)
The company has incurred losses in three immediately preceding years and the capital of
which has been partially or fully eroded.
d) Where the audited annual accounts for the three immediately preceding years are not
available.
7.10. Profit or Loss on realization/sale of investment is computed by taking weighted average book value of
each investment.
7.11. Dividend income (other than interim dividend) is accounted for as income in the year of declaration.
Interim dividends are accounted on the basis of declaration in the Board Meeting held on or before
31st March of the financial year and realized subsequently. Income from shares and debentures, which
are under objection / pending delivery, is accounted for on receipt basis.
7.12. Revenue with respect to Venture Capital Funds is recognised on Receipt basis.
7.13. Amounts received towards compensation for future loss of interest is recognized as income only to the
extent attributable to the accounting year and the balance is kept in interest received in advance
account for apportionment in the relevant years.
7.14. Investment income, profit/loss on sale/realisation of investment, expenditure relating to investments,
amortisation of premium on investments, amount written off/written down in respect of depreciated
investments, provision for non-performing investment/diminution in value are apportioned to Revenue
Accounts and Profit & Loss Account on the basis of Policyholders' Fund and Shareholders' Fund
as at the beginning of the year.
8.
a)
Fixed Assets :
Fixed Assets are stated at cost less depreciation.
The permanent diminution in respect of preference shares is reckoned as follows:
93
Am) A`j n[agnpV`m

A`j n[agnpV`m g{MV n[aemoYZ Ho$ nMmV {Z_mU / A{YJhU bmJV na AmH${bV h & CZH$mo grYr Umbr AmYma na VrZ df
H$s Ad{Y Ho$ {bE n[aemo{YV h& gm\$Q>doà {dH$mg / A{YJhU bmJV H$mo amOd _| ^m[aV h & boIm _mZH$ 26 (EEg 26) _| Omo
_m`Vm Ho$ {bE {ZYm[aV `mo`Vm H$mo nyam H$aVm h, CZH$mo gp_{bV Zht {H$`m J`m h &
9.
10.
Ha
9.1
H$a H$m mdYmZ H$nZr H$mCgob mam {Xò Jò bmJy H$mZyZr {ZU` Ama am` Ho$ AmYma na {H$`m J`m h & {ddmXmnX H$a Ho$ {bò H$moB
mdYmZ Zht {H$`m J`m h Ama {Q>n{U`m Omo ImVm| H$m {hgm h _| " AmH$p_H$ Xo`Vm`| " Ho$ AVJV gp_{bV {H$`m J`m h &
9.2
{ddoH$nyU {dMma Ho$ A`YrZ b{~V H$a H$mo g_`mVa AmYma na _m`Vm Xr J`r h Omo, EH$ Ad{Y _| Cn H$a `mo` Am` VWm
AmH${bV Am` H$m AVa h Ama nadVu Ad{Y _| {VdVu `mo` hmo &
mdYmZ VWm AmH$p_H$ Xo`VmE

10.1. nyd KQ>Zm H$o \$bd$n g^d AZw_mZ Ho$ AmYma na dV_mZ _| ~m`Vm hmoZo na H$nZr mdYmZ H$s `dWm
H aVr h {OgHo$ mam
^{d` _| gmoVmo| H$m IM hmoVm h &

10.2. AmH$p_H$ Xo`Vm H$m H$Q>Z V^r {H$`m OmVm h O~ ~m`Vm H$r g^mdZm hmo `m dV_mZ ~m`Vm _| gmoVmo| H$s Anojm hmo gH$Vr h `m
Zht &
10.3 {dVr` {ddaUm| _| AmH$p_H$ n[agnpV`m| H$mo _m`Vm Zht {X`m J`m h `m H$Q>Z {H$`m J`m h &
94
b)
Intangible Assets: :
Intangible Assets are stated at cost of development / acquisition less accumulated amortisation. The
same is amortised over a period of three years on straightline basis. Software development / acquisition
costs, except those which meet the recognition criteria as laid down in Accounting Standard 26
(AS 26), are charged to revenue.
9.
TAXATION :
9.1
Provision for taxation is made after due consideration of the applicable judicial pronouncements and
opinions from the Company's counsel. Disputed taxes are shown under 'Contingent Liabilities' in
notes forming part of accounts.
9.2
Deferred tax is recognised, subject to the consideration of prudence, on timing differences, being the
difference between taxable income and accounting income that originate in one period and are capable
of reversal in one or more subsequent periods.
10. PROVISIONS AND CONTINGENCIES

10.1 The Company creates provision based on a reliable estimate for the present obligation of a past event
that might cause outflow of resources in future.
10.2 Disclosure for a contingent liability is made when there is a possible obligation or a present obligation
that may or may not require an outflow of resources.
10.3 Contingent assets are neither recognized nor disclosed in the financial statements.
95
II. boImAm| _| gp_{bV {Q>n{U`m

(JV df H$o AmH$S>| H$moR>H$ _| XemE Jò h)
1. (A) AmH$p_H$
Xo`mmE
(nò bmIm| _|)
Am{eH MwH Vm eoà

nm{bgr Ho$ VhV Xmdo {Oh| H$nZr G$U Zht _mZVr
H$nZr mam `m CgH$s Amoa go Xr JB {V^y{V`m
{ddmXmnX dYm{ZH$ _mJ / Xo`Vmò {OgH$m mdYmZ Zht {H$`m J`m
ZmoQ
31.03.2011
214.02
10080.41
0.00
27377.94
31.03.2010
0.00
7168.50
0.00
38218.93
: dYm{ZH$ _mJ _| A 26207.73 bmI H r am{e gp_{bV h & Am`H a [d^mJ Zo H nZr H mo dmng H r OmZr am{e A 26222.65 bmI _|
g_m`mo[OV [H `m &
1. (Am) JV dfm| go df 2008 -2009 VH$ m{YH$V godm Q>oeZ Ho$ {~bm| go H$nZr Xdmam m H|$r` dQ> Ho {S>Q> H$mo godm H$a {d^mJ Zo AdrH$ma
{H$`m h VWm CgHo$ {d Anrb ^r {H$`m J`m h & `{X godm H$a m{YH$m[a`m| Xdmam df 2009-2010 hoVw AdrH$ma {H$`m OmEJm Vmo H|$r` dQ> Ho${S>Q>
hoVw A 119.31 bmI H$s am{e AdrH$ma OmEJm & df 2010-11 H$s [aQZ> A^r VH$ XO Zhr H$s J`r h &
2. (A) ^maV _| Ama Ho$ ~mha H$nZr H$s n[agnpV`m| H$m Xm{`d
gmm n / JmaQ>r n Omar H$aZo Ho$ {bò O_m `yV_ am{e

`m`mb` Ho$ AmXoe Ho$ AZwgma `m`mb` _| O_m H$s J`r am{e
{dXoer dYm{ZH$ AnojmAm| Ho$ AZwnmbZ _| O_m H$s J`r am{e
2. (Am)
(nò bmIm| _|)

31.03.2011
70.00
514.02
0
gm{d{YH$ AnojmAm| Ho$ AZwgma {H$E JE {Zdoe / O_m
ZH$X ~mOma m| gWm H$mamo~ma H$s grmm Ho$ g~Y m| go~r n[an {X.19.3.08 Ho$ AZwgma nyOr ~mOma m|
H$mamo~ma H$aZo Ho$ {bE wm~B Q>mH$ ~mOma m| `yZVm am{e H$s Omm &
ZH$X ~mOma m| gWm H$mamo~ma H$s grmm Ho$ g~Y m| go~r n[an {X.19.3.08 Ho$ AZwgma nyOr ~mOma m|
H$mamo~ma H$aZo Ho$ {bE ZoeZb Q>mH$ ~mOma m| `yZVm am{e H$s Omm &
10.70% Omo Or Amo AmB - 2020, H$mo Ama ~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU Ho$ `yZV_ O_m eVm]
Ho$ AZwnmbZ _| ~r_m A{Y{Z`_ 1938 H$s Ymam 7 Ho$ AZwgma hoM S>r E\$ gr ~H$ _| O_m E\ dr .1200.10 bmI
10.70% Or Amo AmB 2020 - ^maVr` br`[aJ {ZJ_ _| gr.~r.Eb.Amo. MmbZ hoVw O_mE\ dr .100 bmI
^maVr` br`[aJ {ZJ_ _| gr.~r.Eb.Amo. MmbZ hoVw `yZVm am{e H$s Omm
3.
96
(nò bmIm| _|)

31.03.2011
31.03.2010
500.00
500.00
1000.00
1000.00
1257.61
1263.99
104.79
1.00
105.32
1.00
G$U, {Zdoe Ama [Wa n[agnpV`m| Ho$ H$maU AZw_m{ZV Xo`mmE
G$U Ama {Zdoe

H$moa B`ya|g n[a`moOZm - gm\ Q>doà Ama hmS> doà
{ejU Ho$ _| {Z_mU
BS>rnr H$s Xo`Vm
hVmVaU Ho$ {bò {db{~V Ama {ddmXmnX n[agnpV`m| Ho$ Q>mn ewH$ Ama nOrH$aU Xa
(AZw_m{ZV)
31.03.2010
70.00
571.21
22.18
(nò bmIm| _|)

31.03.2011 31.03.2010
6027.63
3556.86
14573.56
11415.74
27.14
0.00
18.34
0.00
178.54
152.05
II. NOTES TO ACCOUNTS

(Previous year's figures, wherever necessary, have been shown in brackets)
1. (a) Contingent Liability :
On partly paid shares

Claims other than those under policies, not acknowledged as debts
Guarantees given by or on behalf of the Company
Statutory demands / liabilities in dispute, not provided for
31.03.2011
214.02
10080.41
0.00
27377.94
(A in lakhs)
31.03.2010
0.00
7168.50
0.00
38218.93
Note : Statutory demands include a sum of A 26207.73 lakhs in respect of

income tax. The Income Tax
authorities have suo motto adjusted the refund due to the company amounting to A 26222.65 lakhs.
1(b) The Service Tax Department has disallowed cenvat credit availed by the company on bills raised on 'authorised
service stations' for the earlier years upto 2008-09 and the same have been appealed against. In the event of
disallowance by the Service Tax authorities for the year 2009-10, a sum of A 119.31 lakhs would be disallowed
towards Cenvat Credit. For 2010-11, the return is yet to be filed.
2. (a) Encumbrances to Assets of the Company in and outside India :
2. (b) Investments / Deposits made in accordance with statutory requirements :
Deposit with Bombay Stock Exchange towards Margin Money for trading in Capital
Market as per SEBI Circular dated 19.3.08 regarding Margin of Institutional
Trades in the Cash Market
Deposit with National Stock Exchange towards Margin Money for trading in Capital
Market as per SEBI Circular dated 19.3.08 regarding Margin of Institutional
Trades in the Cash Market
10.70% GOI 2020 deposited with HDFC Bank in accordance with Section 7 of
Insurance Act 1938, to adhere to minimum deposit requirement of Insurance
Regulatory and Development Authority - FV Rs.1200.10 lakhs
10.70% GOI 2020 deposited with Clearing Corporation of India for CBLO operation
- FV Rs.100 lakhs
Margin money deposited with Clearing Corporation of India for CBLO operations
(A in lakhs)
31.03.2011
31.03.2010
500.00
500.00
1000.00
1000.00
1257.61
1263.99
104.79
1.00
105.32
1.00
3. Commitments made and outstanding on account of loans, investments and fixed assets :
Loans and Investment

Core Insurance Project - Software and Hardware
Construction at Learning Centre
Commitments for EDP
Stamp duty and Registration charges and Interest on properties in dispute and
pending conveyance (estimated at)
31.03.2010
70.00
571.21
22.18
(A in lakhs)
31.03.2011 31.03.2010
6027.63
3556.86
14573.56
11415.74
27.14
0.00
18.34
0.00
178.54
152.05
NOTES TO ACCOUNTS
Deposits towards margin money for issue of letters of credit / bank guarantee
Deposits made in court as per orders /attachments of bank accounts for claims
Deposits made to comply with Overseas Statutory requirements
(A in lakhs)
31.03.2011
70.00
514.02
0
97
4.
^maV _| Ama Ho$ ~mha XmdoXmam| H$mo AXm {H$ò Jò nwZ~u_m a{hV Xmdo
H$mamo~ma
^maV _|
29697.96
(27755.14)
1912.73
(19155.54)
315541.68
(281853.84)
ApZ
g_wr
{d{dY
5.
nmM dfm] Ho {cE {db{~V Xmdm| H m dfdma {ddaU gbZ h &
6.
^maV _| / Ho$ ~mha {H$ò Jò H$mamo~ma go m nwZ~u_m a{hV r{_`_ :

H$mamo~ma
^maV _|
49574.62
(38741.03)
24315.09
(24332.51)
434940.26
(352846.87)
ApZ
g_wr
{d{dY
7. 31-3-2011 H$mo {Zdoe
8.
(nò bmIm| _|)

^maV Ho$ ~mha
998.08
(1115.51)
16134.18
(214.18 )
472.60
(1031.48)
(nò bmIm| _|)

^maV Ho$ ~mha
1433.65
(1824.78)
598.33
(764.64)
832.53
(505.81)
Ho$ H ` Ho$ g~Y m| {ZnmXZ Ho$ {bE b{~V Zht h Ama {Zdoe Ho$ {dH ` Ho$ g~Y m| ^wJVmZ A{VXo` Zht h &
~r_m {d{Z`m_H Ama {dH$mg m{YH$aU (AmB.Ama.S>r.E.) Ho$ ~r_m {d{Z`_ Ho$ AZwgma, gyMr~ gm`me eoàm| Ama nman[aH$ {Z{Y Ho$ my`
m| hE n[adVZ Ho$ H$maU Adgy{bV bm^ (ew) A 471625.18 bmI (A 480845.42 bmI) H$mo ghr my` n[adVZ ImVo m| {b`m J`m h &
Eogo {Zdoem| H$m Eo{Vhm{gH$ bmJV A 267613.56 bmI (A 269495.47 bmI) h & b{~V dgybr Ho$ n[aUmmd$n Omm eof Omo{H$ ghr my`
n[adVZ ImVo m| h, {dVaU Ho$ {bE CnbY Zht h&
ghr my` AmYma na my`m{H$V ~mOma my` Ama Eo{Vhm{gH$ bmJV H$m mXdma {ddaU {ZZmZwgma h
~mOma _y`
gmdO{ZH$ CnH _ Ho$ gm`me eoà
gmdO{ZH$ CnH _ H$mo N>moS>H$a A` H$n{Z`m| Ho$ gm`me eoà
^maV Ho$ ~mha gm`me eoà
nman[aH$ {Z{Y
Hw$b
Eo{Vhm{gH$ bmJV
(nò bmIm| _|)

ghr _y` n[adVZ
184128.72
(181154.12)
554931.65
(560390.26)
178.37
(187.54)
6425.97
(8608.97)
93053.03
(85025.47)
174560.21
(175860.96)
0.32
(0.31)
6425.97
(8608.73)
91075.69
(96128.65)
380371.44
(384529.30)
178.05
(187.23)
0.00
(0.24)
745664.71
(750340.89)
274039.53
(269495.47)
471625.18
(480845.42)
9. A0.12 bmI (A3.96 bmI) H$m {Zdoe AmnpV Ho$ A`YrZ hmoZo Ho$ n[aUm_ d$n H$nZr Ho$ Zm_ _| nOrH$V Zht {H$`m J`m h &
98
4. Claims less reinsurance, paid to claimants in/outside India :

(A in lakhs)
Business
In India
29697.96
(27755.14)
1912.73
(19155.54)
315541.68
(281853.84)
Fire
Marine
Miscellaneous
Outside India
998.08
(1115.51)
16134.18
(214.18 )
472.60
(1031.48)
5. Age-wise outstanding claims statements for five years are enclosed.

6. Premium less reinsurance written from business in/outside India :
Business
(A in lakhs)
In India
49574.62
(38741.03)
24315.09
(24332.51)
434940.26
(352846.87)
Fire
Marine
Miscellaneous
Outside India
1433.65
(1824.78)
598.33
(764.64)
832.53
(505.81)
7. In respect of Purchases of Investments no deliveries are pending and in respect of sale of investment, no payments
are overdue as on 31-3-2011.
8. In accordance with the regulation prescribed by IRDA, unrealised gains (net) amounting to A 471625.18 lakhs
(A 480845.42 lakhs) arising due to changes in the fair value of listed equity shares and mutual funds are taken to
fair value change account. The historical cost of such investments amounted to A 267613.56 lakhs
(A 269495.47 lakhs). Pending realisation, the credit balance in the fair value change account is not available
for distribution.
Break up of Market value and historical costs which have been valued on fair value basis is as follows :
Equity Shares of PSU

Equity Shares of Companies other than PSU
Equity Shares outside India
Mutual Fund
Total
Market Value
184128.72
(181154.12)
554931.65
(560390.26)
178.37
(187.54)
6425.97
(8608.97)
Historical Cost
93053.03
(85025.47)
174560.21
(175860.96)
0.32
(0.31)
6425.97
(8608.73)
Fair value change

91075.69
(96128.65)
380371.44
(384529.30)
178.05
(187.23)
0.00
(0.24)
745664.71
(750340.89)
274039.53
(269495.47)
471625.18
(480845.42)
9. Investments amounting to A 0.12 lakhs (A 3.96 lakhs) have not been registered in the name of the company
as they are under objection.
NOTES TO ACCOUNTS
(A in lakhs)
99
10.
^maVr` Q>mH$ hmo[S>J {ZJ_ {b{_Q>oS> (A{âjH$) go df H$s g_m{ na m _mU n Ama ImVm my` Ho$ gm_O` go {Zdoe m| Cn
AnhMmZ n[a_mUmmH$ AVa H$mo {ZZ{b{IV gmaUr m| {X`m J`m h :-
{ddaU
gm`me d A{YmmZ eoà
~Yn
Hw$b
gm`me d A{YmmZ eoà
ImVm my` (2010-11)

H$mr
H$mr
H$mr
A{Yeof
ImVm my`
ImVm my`
ImVm my`
ImVm my`
ImVm my` (2009-10)
0.00
3.62
56.20
56.20
56.20
59.82
19.29
20.64
11.
AmB . Ama. S>r. E. Ho$ _mZXS>mZwgma A 1124757.38 bmI (A 925421.90 bmI) Ho Hw$b {Zdoe n[agn{V _| A 7913.77 bmI
(A 10130.10 bmI) Ja {ZnmXZ n[agn{V _mZm J`m h & AmB . Ama. S>r. E. Ho$ _mZXS>mZwgma Ja {ZnmXZ n[agnpV (ew
A{Y`mJ/ gM`Z) Ho$ {bE Mmby boIm df _| A 2277.60 bmI (A (-)5752.77 bmI) VH$ Ama 31 _mM 2011 VH$ .41771.22
bmI (A 39493.62 bmI) H$mo Hw$b Am` boImH$Z hoVw Zht {b`m J`m h &
12.
nwZga{MV n[agnpV
H _
g.
{ddaU
1.
n[agnpV`m| H$r Hw$b am{e, Omo nwZgaMZm Ho$ AYrZ hmo &
2.
_mZH$ n[agnpV`m| H$r am{e, Omo nwZgaMZm Ho$ AYrZ hmo &
3.
Ad _mZH$ n[agnpV`m| H$r am{e, Omo nwZgaMZm Ho$ AYrZ hmo &
4.
g{XY Ama A` n[agn{V`m| H$r am{e,

Omo nwZgaMZm Ho$ AYrZ hmo &
(nò bmIm| _|)

nwZga{MV
gr S>r Ama
A`
nwZga{MV
NIL
(2601.71)
NIL
(1000.00)
NIL
(NIL)
NIL
(1601.71)
728.46
(NIL)
NIL
(NIL)
NIL
(NIL)
728.46
(NIL)
Hw$b
728.46
(2601.71)
NIL
(1000.00)
NIL
(NIL)
728.46
(1601.71)
13. (i) ~r_m {d{Z`m_H Ama {dH$mg m{YH$aU (~r_m H$n{Z`mo Ho$ {dVr` {ddaU Ama boIm narjm {VdoXZ H$s V`mar) H$s AZwgyMr - ~r Ho$
^mJ I ~r_m {d{Z`_ 2002 Ho$ AZwgma G$U n{andVm H$mo n[andVm hoVw gwa{jV mmZm J`m h VWm Eo{Vhm{gH$ bmJV na gy{MV {H$`m OmEJm
Omo n[aemoYZ Ho$ A`YrZ hmo &

H$nZr ~r_m {d{Z`m_H Ama {dH$mg m{YH$aU Ho$ {d{Z`_ Ho$ AZwgma G$U {V^y{V`m| H$mo ^r n{andVm hoVw gwa{jV mmZVr h & {\ a ^r r{m`_
H$m n[aemoYZ ({Zdoe H$m df g{hV Ama n[aemoYZ H$m df a{hV), n{andVm hmoZo H$s eof Ad{Y / C^` {dH$n H$s VmarI VH$ Ohm {dH$n
CnbY H$mo gajU Ho$ AmYma na {H$`m J`m h &
(ii)
14.
15.
16.
100
H$nZr Ho$ nmg {a`b EQ>oQ> {Zdoe gnpV Zht h &
gaH$mar H$nZr hmoZo Ho$ H$maU, H$nZr, H$nZr A{Y{Z`_ 1956 H$s Ymam 620 Ho$ VhV Omar A{YgyMZm g.235 {XZm{H$V 31 OZdar 1978 Ho$
mam ~YH$s` doVZ n[aH$bZ go Ny>Q> m h &
{ddmXmnX _m_bm| H$mo N>moS>H$a A` H$moB ^r {ZnQ>m{ZV Xmdm VwbZ n H$s VmarI H$mo N> _hrZo go A{YH$ Ad{Y Ho$ {bE ~H$m`m Zht h &
H$nZr boIm Zr{V Ho$ AmYma na Wm`r n[agnpV`m| H$m my`mg {H$`m J`m h & my`mg Xa {ZZH$ma go h
i) Ag~m~ d gOm gm_Jr
18.10%
ii) _moQ>a H$ma
25.89%
iii) H$`yQ>a Ed doZ CnH$aU
60.00%
iv) nQ>Q>mYmar ^dZ -H$m`mb`
10.00%
v) nQ>Q>mYmar ^dZ-Amdmg
5.00%
vi) ~mBgmB{H$b
20.00%
vii) {dwV gm_Jr d CnH$aU Am{X
15.00%
-
10. Unidentified Quantitative differences in Investments, arising out of reconciliation between the book figures and
the year end certificate received from SHCIL (Custodian of the Company's investments) are tabulated as under:
Particulars
Equity & Preference Shares
Debentures
Total
Equity & Preference shares
Short
Short
Short
Excess
Book Value
Book Value
Book Value
Book Value
Book Value (2010-11)

0.00
56.20
56.20
19.29
Book Value (2009-10)

3.62
56.20
59.82
20.64
11. Out of the total investment assets of A 1124757.38 lakhs (A 925421.90 lakhs), A 7913.77 lakhs
(A 10130.10 lakhs) is considered as non-performing assets in terms of Insurance Regulatory and Development
Authority guidelines. The aggregate amount of income not recognised for the current accounting year on NPA
(net of waiver/collections) as per related IRDA guidelines is A 2277.60 lakhs [A (-)5752.77 lakhs] and up to
31st March 2011 is A 41771.22 lakhs (A 39493.62 lakhs).
(A in lakhs)
12. Restructured Assets :

Sl.
No.
CDR
restructuring
Particulars
1.
Total amount of assets subjected to restructuring
2.
The amount of standard assets subjected to

restructuring
The amount of Sub-Standard assets subjected to
restructuring
The amount of Doubtful and other assets
subjected to restructuring
3.
4.
NIL
(2601.71)
NIL
(1000.00)
NIL
(NIL)
NIL
(1601.71)
Other
restructuring
Total
728.46
(NIL)
NIL
(NIL)
NIL
(NIL)
728.46
(NIL)
728.46
(2601.71)
NIL
(1000.00)
NIL
(NIL)
728.46
(1601.71)
13. (i) As per Part I of Schedule B of IRDA (Preparation of financial statements and Auditors Report of Insurance
Companies) Regulations, 2002, Debt Securities shall be considered as 'Held to Maturity Securities' and shall be
measured at historical costs subject to amortisation.
(ii) The Company does not have Real Estate Investment Property.
14. Being a Government Company, the Company is exempted from computation of managerial remuneration
st
in terms of Notification No. 235 dated 31 January 1978 u/s.620 of the Companies Act, 1956.
15. Barring disputed cases, no settled insurance claim remained unpaid for more than six months as on the Balance
Sheet date.
16. Depreciation on Fixed Assets is provided as per the Accounting Policy of the Company at the following rates:i)
ii)
iii)
iv)
v)
vi)
vii)
Furniture & Fixtures

Motor Cars
Computer & WAN Equipments
Freehold Buildings Office
Freehold Buildings Residence
Bicycles
Electrical fittings & equipments etc.
18.10%
25.89%
60.00%
10.00%
5.00%
20.00%
15.00%
NOTES TO ACCOUNTS
The company in line with IRDA Regulations is also treating debt securities as 'Held to Maturity'. However,
Amortisation of premium is done over the remaining period of maturity (including the year of investment and
excluding the year of redemption)/up to the date of put/call option-where such option is available, consistently
on a conservative basis.
101
17.
H$nZr Ho$ dm{_d _| hmoZodmbr gn{V _| ^y{_ Ama Jh gn{V gp_{bV h & bo{H$Z Omo$ hVmVaU Ama nOrH$aU Ho$ {bò {db{~V h, CZH$m
_y` A 1849.42 bmI h (A 1689.47 bmI) {Og_| {ddmXmnX gn{V Ho$ A 111.46 bmI (A 111.46 bmI) ^r gp_{bV
h & Q>rEgr d EbnrE go H ` n[agnpV`m (A 159.95 bmI Ama A` ~r_m BH$mB`m| go H ` n[agnpV`m A 3.37 bmI)
18.
_moQ>a VVr` nj nyb
18.1
H$nZr, ~r_m {d{Z`m_H Ama {dH$mg m{YH$aU Ho$ VhV Wm{nV ^maVr` _moQ>a VVr` nj ~r_m nyb AmB E_ Q>r nr AmB nr (IMTPIP) H$m
gX` h, H$nZr H mo 1 Ab 2007 H$mo `m CgHo$ nMmV ~r_m{H$V g_V dm{U` dmhZm| Ho$ _moQ>a VVr` nj ~r_m `dgm` Ho Ae H$mo nyb
emgH$ Ho$ $n _| H$màV gmYmaU ~r_m {ZJ_ H$mo WmZmV[aV H$aZm h & 01.03.2010 go 28.02.2011 VH$ H$s Ad{Y Ho$ {bE r{_`_
Xmdm|, ``m| VWm H$nZr go g~{YV {Zdoe Am` H$mo nyb emgH$ go m {ddaU Ho$ AZwgma boIm{H$V {H$`m J`m h & ~r_m A{Y{Z`_ 1938
H$s Ymam 64drE Ho gmW n{RV ~r_m {d{Z`m_H Ama {dH$mg m{YH$aU A{Y{Z`_ H$s Ymam 14 Ho$ VhV ~r_m {d{Z`m_H Ama {dH$mg
m{YH$aU AmXoe g.~r_m {d{Z`m_H Ama {dH$mg m{YH$aU / EZ.Eb. / Amo.Ama.S>r / E_nrEb/ 046 /03/2011 {X. 12.3.2011 Ho$
AZwgma AmB.E_.Q>r.nr.AmB.nr. _| boIm{H$V {H$`m J`m h &
18.2
df Ho$ XmamZ H$nZr Zo _mOyXm mdYmZm| na VrZ òH$ dfm] Ho$ {bE 2007-08 go 2009-10 VH$ A{OV r{_`_ H$s na_ Xm{`d 153%
Ama df 2010 Ho$ {bE _moQ>a VVr` nj nyb go A{OV r{_`_ 153% Ho$ AVa H$s {Xem _| A{V[aV mdYmZ {H$`m J`m h & `h ~r_m
A{Y{Z`_ 1938 H$s Ymam 64drE Ho$ gmW n{R>V ~r_m {d{Z`m_H Ama {dH$mg m{YH$aU A{Y{Z`_ H$s Ymam 14 Ho$ AmXoe Ho$ AZwgma h &
hmbm{H$ na_ Xm{`d H m$ n[a_mU m{YH$aU mam {Z`wV dV ~r_mH$H$ H$s g_yh g_rjm Ho$ ~mX {ZYm[aV {H$`m OmEJm &
18.3
01.04.2007
18.4
Mmby {dVr` df hoVw _moQ>a VVr` nj nyb go H$nZr H$mo m `dgm` H$m {ddaU {ZZ H$ma go h
go 31.03.2010 Ad{Y hoVw VVr` nj nyb AmV[aH$ `dgm` Ho$ g~Y _| b{~V {ZnQ>mZ hoVw df Ho$ XmamZ H$nZr Zo
gmYmaU ~r_m {ZJ_ _moQ>a VVr` nj ~r_m nyb go A 92793 bmI m {H$`m h & ~r_m {d{Z`m_H Ama {dH$mg m{YH$aU n[an
{X.31.03.2010 H$s_X g.5 Ho$ AZwgma CV am{e ~r_m {d{Z`m_H Ama {dH$mg m{YH$aU Ho$ {Zdoe {d{Z`_ Ho$ VhV H$nZr mam {Zdo{eV h &
r{_`_ ................................................ A 57943 bmI

{ZnQmZ Xmdo ........................................... A 27959 >bmI
H$nZr Zo ~r_m {d{Z`m_H Ama {dH$mg m{YH$aU {d{Z`_ Ho$ AZwgma A{Yeof .29984 bmI {Zdo{eV [H `m h &
19.
2010-11 _| gmYmaU ~r_m {ZJ_ (nyb ~YH$) go m AmVH$dmX nyb aoQ>mo H$s AmH$S>o H$mo df 2010-11 Ho$ boIm _|, Mmby df Ho$ 3 {V_mhr
Ama df 2009-10 H$s MmWr {V_mhr Ho$ AmH$S>o, VWm r{_`_ A 973.10 bmI VWm Xmdm A 4.19 bmI VWm df 2008-09 H$s MmWr
{V_mhr H$m godm ^ma A 114.37 bmI H$s am{e Omo df 2009-10 _| Zht {b`m J`m h, ^r gp_{bV h&
102
20.
01.04.2002
H$s ^mdr VmarI go hmH$mJ _| H$nZr H$m A{^H$aU Zo ~r_mboIZ MmbZ ~X H$a {X`m Ama A{V_ MmbZ H$m n[aH$bZ
{H$`m J`m & CnJV bo{H$Z Agy{MV Xmdo Ed CnJV ~pH$ n`m $n go Agy{MV Xmdm| H$s b{~V ApV_ [anmoQ> Ho$ n[aUm_d$n JV dfm] Ho$
AmH$S>m| H$mo dV_mZ Xam| na JUZm {H$`m J`m h &
21.
H$nZr Ho$ AVa H$m`mb`rZ ImVo Ho$ g_O` H$m H$m` Mmby h Ama ~YZ H r am` _| CgH$m ^md VmpdH$ Zht hmoJm &
22.
~r_m H$mamo~ma H$aZodmboA``pV`m| VWmgWmAm| go / H$mo ~H$m`m am{e H$m nwpQ>H$aU m hAm h, Hw$N> _mbm| _| g_O` H$m H$m` Mmby h &
23.
A) ~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU mam {ZYm[aV boImm AZwnmV AZwbZH$ _| {X`m J`m h &
Am) ~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU mam {ZYm[aV m$n _| {d^mOZ {ddaU nWH$ $n go {X`m J`m h &
B) JV nmM dfm] Ho$ {bE {dVr` {ddaU H$m gmame AZwbZH$ _| {X`m J`m h &
17.
Fixed Assets include Land and House Properties valued at A 1849.42 lakhs (A 1689.47 lakhs) which are
pending Conveyance and Registration. This includes properties under dispute worth A 111.46 lakhs
(A 111.46 lakhs), properties purchased from TAC and LPA (A 159.95 lakhs and properties acquired from
erstwhile insurance units A 3.37 lakhs).
18.
Motor Third Party Pool:
18.1
The Company is a member of the Indian Motor Third Party Insurance Pool (IMTPIP) which is created under
the regulation of IRDA to share all motor third party insurance business underwritten on or after 1st April
2007, in respect of commercial vehicles with GIC as Pool Administrator. The Companys share of inward
premium, claims, expenses and interest income have been accounted as per the unaudited financial
statements received from the Pool Administrator, covering the period from 01.03.2010 to 28.02.2011. The
IMTPIP accounts have been drawn in accordance with the IRDA Order No. IRDA / NL / ORD / MPL / 046 / 03 /
2011 dated 12.03.2011, under Section 14 of the IRDA Act read with Section 64VA of Insurance Act, 1938.
18.2
During the year the company has made a tentative additional provision towards difference of ultimate liability
@ 153% of the earned premium for each of the three years from 2007-08 to 2009-10 over the existing
provisions and @ 153% of the earned premium for 2010-11 for IMTPIP losses in respect of Motor TP Pool
business as per the order under Section 14 of IRDA Act read with Section 64VA of the in Insurance Act, 1938.
The total liabilities of A 94867 lakhs resulting out of the order is now recognized in the accounts. However
the outcome of ultimate liability will be quantified only on completion of peer review by an independent
actuary appointed by the Authority.
18.3
During the year, the Company has received A 92793 lakhs from GIC Motor Third Party Insurance Pool
towards settlement of balances in respect of T P Pool Inward business for the period from 01.04.2007 to
31.03.2010. In accordance with Point No. 5 of IRDA Circular dated 31.03.2010, the amount has been
invested by the Company as per IRDA Investment Regulations.
18.4
The business transacted by Company on account of the Third Party Motor Pool for the current financial year is
as detailed below:
Premium........................................A 57943 lakhs
Claims Paid.......................................A 27959 lakhs
19.
Terrorism Pool retro figures received from GIC (Pool Administrator) accounted in 2010-11 include figures
for the 3 quarters of the current year, fourth quarter of 2009-10 and also a sum of A 973.10 lakhs towards
premium and A 4.19 lakhs towards claims paid and A 114.37 lakhs towards service charges of fourth quarter
of 2008-09 which was not accounted in 2009-10.
20.
The Companys Agency at Hong Kong ceased underwriting operations with effect from 01.04.2002 and the
transactions relating to run off operations have been accounted. Pending final IBNR/IBNER report, the NIL
provision as given in Actuarys report for the previous year has been considered for current year.
21.
Reconciliation of Inter-Office accounts is in progress and in the opinion of the Company the effect of the same
will not be material.
22.
Confirmation of amounts has been received in respect of balances Due from / Due to other persons or bodies
carrying on Insurance business, except in a few cases, where reconciliation is in progress.
23.
a) Accounting Ratios as prescribed by IRDA are enclosed.

b) Segmental reporting in the format prescribed by IRDA is given along with Schedules.
c) A summary of financial statements for the last five years is attached.
NOTES TO ACCOUNTS
The surplus of Rs.29984 lakhs is invested by the Company, in accordance with the IRDA Regulations.
103
df Ho$ XmamZ H$_Mm[a`m| H$mo Xo` doVZ_mZ _| hE gemoYZ VWm CnXmZ _| {ZYm[aV gr_m A 3,50,000 go A 10,00,000 VH$ ~T>Zo go H$nZr
Zo A{V[aV Xm{`d H$m CnJV {H `m h & BgHo$ n[aUm_d$n H$nZr H$m CnXmZ Xm{`d A 16366 bmI VH$ ~T> J`r h &
24.
boIm _mZH$ E.Eg.15 (n[aemo{YV) Ho$ eVm] Ho$ AZwgma H$_Mmar gw{dYmAm| H$s g_V am{e A 16366 bmI H$mo bm^ Ama hm{Z ImVo _|
boIm{H$V {H `m OmZm h &
hmbm{H$ ~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU Zo AnZo n[an g.~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU/
E\$& E/n[a/A{Y{Z`_/069/04/2011 {X.18.4.2011 Ho$ VhV ~r_mH$VmAm| H$mo A{V[aV Xm{`d H$mo {dVr` df 2010-11 go
nmM df H$s Ad{Y _| n[aemo{YV H$aZo H$s AZw_{V Xr h ~eV} {H$ òH$ df Hw$b am{e H$s `yZV_ 1/5 am{e Cg_| gp_{bV hmo &
VXZwgma 2010-11 hoVw n[aemoYZ {ZZH$ma go h (nò bmIm| _|)
Hw b am{e
2010-11
14100
_| n[aemo{YV am{e
Ja A{^km{nV VWm An[aemo{YV CnXmZ Xm{`d
2820
11280
Ja A{^km{nV VWm An[aemo{YV Xm{`d H$r am{e .11280 bmI _| {dN>oX /godm{ZdpV H$_Mm[a`m| go g~{YV am{e gp_{bV Zht h &
boIm _mZH$ 15 H$s Anojm Ho$ AZwgma `{X df Ho$ XmamZ H$nZr Zo g_V Xm{`d nhMmZm J`m h Vmo H$nZr H$m bm^ A 11280 bmI go H$_ hmo gH$Vm
h VWm Xm{`d A 11280 bmI VH$ ~T> gH$Vr h &
boIm Zr{V Ho$ AZwH$_ VWm boIm _mZH$ E. Eg. 15 (Ama) H$o AZwgma nM {Z`moOZ bm^m| H$s g{j pW{V H$mo bm^ Ed hm{Z boIm VWm VwbZn _|
{ZZmZwgma A{^km{nV {H$`m J`m h H$. {Z`V bm^-Xm{`dm| _| n[adVZ (nò bmIm| _|)
n|eZ
CnXmZ
AdH$me{ddaU
({Z{Y~ ) ({Z{Y~ ) ZH$XrH$aU
(A{Z{Y~)
1 Ab 2010 H mo {Z`V bm^ Xm{`d H$m dV_mZ _y`
`mO _y`
dV_mZ godm-``
nyd godm bmJV (CnXmZ gr_m VWm doVZ gemoYZ Ho$ H$maU)
KQ>m`| - AXm H$s J`r gw{dYm
Xm{`dm| na ~r_mH$Z hm{Z/(bm^)
31 _mM 2011 H mo {Z`V bm^ Xm{`d H$m dV_mZ _y`
114885
35910
15130
9191
2873
1210
4862
0
1496
141
795
0
11788
29850
2945
2266
0
1025
147000
53700
18160
I. `moOZm AmpV`m| Ho$ C{MV _y` _| n[adVZ :
{ddaU
1 Ab 2010 H mo `moOZm AmpV`m| H$m ~mOma _y`
`moOZm AmpV`m| go AZw_m{ZV bm^

{Z`moVm H$m AeXmZ
KQ>m`| - gXV bm^
~r_mH$Z hm{Z/(bm^)
31 _mM 2011 H mo `moOZm AmpV`m| H$m ~mOma _y`
`moOZm AmpV`m| na dmV{dH$ bm^
104
n|eZ
CnXmZ
({Z{Y~ ) ({Z{Y~ )
(nò bmIm| _|)

AdH$meZH$XrH$aU
(A{Z{Y~)
114885
37228
15130
9191
2978
34712
5179
3030
11788
0
2945
0
0
0
147000
42440
18160
bmJy Zht
24.
During the year, the Company has incurred an additional liability in gratuity on account of enhancement in the
prescribed limit from A 3,50,000 to A 10,00,000 as well as the revision in pay scale payable to employees.
As a result, the gratuity liability of the Company has increased by A 16366 lakhs.
In terms of the requirement of the Accounting Standard AS 15 (Revised) on Employees' Benefits the entire
amount of A 16366 lakhs is required to be charged to the Profit and Loss Account.
However, the Insurance Regulatory and Development Authority, vide its Circular No. IRDA/F&A/CIR/ACT/
069/04/2011 dated 18.4.2011, has permitted the insurers to amortize the additional liability over a period of
five years starting from financial year 2010-11 subject to a minimum of 1/5th of the total amount involved
every year. Accordingly, the details of amortisation for 2010-11 is as follows:
(A in lakhs)
Total Amount
14100
Amount Amortised in 2010-11

2820
Unrecognised & Unamortised Gratuity Liability

11280
The unrecognized and unamortised liability of A 11280 lakhs does not include any amount relating to separated /
retired employees.
The profit of the Company would have been lower by A 11280 lakhs and the liability would have been more by
A 11280 lakhs had the Company recognized the entire liability during the year in accordance with the requirements
of AS 15.
Pension
(Funded)
Gratuity
(Funded)
Leave
Encashment
(Unfunded)
114885
35910
15130
Interest Cost
9191
2873
1210
Current service cost
4862
1496
795
141
Less: Benefits paid
11788
2945
Actuarial loss/ (gain) on obligations
29850
2266
1025
147000
53700
18160
Particulars
Present value of defined benefit obligation as at 1st April 2010
Past Service Cost (due to increase in gratuity ceiling and pay revision)
Present value of defined benefit obligation as at 31st March 2011
(A in lakhs)
B. Changes in the Fair Value of Plan Assets :

Pension
(Funded)
Gratuity
(Funded)
Leave
Encashment
(Unfunded)
114885
37228
15130
9191
2978
Employer's Contribution (Regular)
34712
5179
3030
Less: Benefits paid
11788
2945
147000
42440
18160
NA
Particulars
Fair Value of Plan Assets as at 1st April 2010
Expected return of Plan Assets
Actuarial loss / (gain)

Fair Value of Plan Assets as at 31st March 2011
Actual return on Plan Assets
NOTES TO ACCOUNTS
In line with the accounting policy and as per the Accounting Standard AS-15(Revised), the summarized position
of post employment benefits are recognized in the Profit & Loss A/c and Balance Sheet as under:
A. Changes in the defined benefit obligations :
(A in lakhs)
105
J. ew ~r_mH$Z hm{Z/(bm^)
{ddaU
Xm{`d na ~r_mH$Z hm{Z/(bm^) .... (A)
`moOZm AmpV`m| na ~r_mH$Z hm{Z/(bm^) .... (Am )
ew ~r_mH$Z hm{Z/(bm^) (A) + (Am)
Bg Ad{Y _| A{^km{nV ~r_mH$Z hm{Z/(bm^)
dfmV _| Ja A{^km{nV ~r_mH$Z hm{Z / (bm^)
K. VwbZ n _| A{^km{nV am{e
{ddaU
31 _mM 2011 H mo {Z`V bm^Xm{`d H$m dV_mZ _y`
KQ>m`| - 31 _mM 2011 H mo `moOZm AmpV`m| H$m ~mOma _y`
A{J_ $n _| {Z{Y~
Ja A{^km{nV n{adVm Xm{`Vm
VwbZ n _| A{^km{nV A{Z{Y~ ew Xm{`d /(AmpV )
n|eZ
({Z{Y~)
CnXmZ
({Z{Y~)
29850
2266
1025
0
-29850
-29850
0
-2266
-2266
0
-1025
-1025
ey`
ey`
dV_mZ godm-``
`mO ``
df Ho$ XmamZ A{^km{nV n[adVu Xm{`Vm
KQ>m`| - `moOZm AmpV`m| d AeXmZ na AZw_m{ZV bm^
df _| A{^km{nV ew ~r_mH$Z hm{Z / (bm^)
ew bm^ ``
M. VwbZ n _| A{^km{nV Xm{`d _| ~Xbmd
{ddaU
map^H$ ew Xm{`d
ew bm^ ``
gXV AeXmZ
ApV_ ew Xm{`d
CnXmZ
({Z{Y~)
147000
147000
53700
42440
18160
18160
ey`
ey`
ey`
ey`
ey`
ey`
11280
20
Ho$ gaH$ma Ama am` gaH$ma H$s {V^y{V`m

H$mnm}aoQ> ~mS> _| {Zdoe
A` {Zdoe
106
n|eZ
({Z{Y~)
CnXmZ
({Z{Y~)
(nò bmIm| _|)

AdH$meZH$XrH$aU
(A{Z{Y~)
4862
1496
795
9191
2873
2820
2978
-2266
6477
1210
ey`
9191
-29850
34712
n|eZ
({Z{Y~)
CnXmZ
({Z{Y~)
0
34712
34712
0
0
6477
5179
1298
N. Q>Q> mam gnmo{fV {Zdoe {VeVVm

{ddaU
ey`
(nò bmIm| _|)
AdH$meZH$XrH$aU
(A{Z{Y~)
n|eZ
({Z{Y~)
S. bm^ Ama hm{Z ImVo _| A{^km{nV ``

{ddaU
(nò bmIm| _|)

AdH$meZH$XrH$aU
(A{Z{Y~)
n|eZ
({Z{Y~)
ey`
0
-1025
3030
(nò bmIm| _|)

AdH$meZH$XrH$aU
(A{Z{Y~)
0
3030
3030
0
(% _|)
CnXmZ
({Z{Y~)
55.00
55.00
40.00
40.00
5.00
5.00
(A in lakhs)
C. Net Actuarial loss / (gain)
Actuarial loss / (gain) on obligation . (A)

Actuarial loss / (gain) on Plan Assets . (B)
Net Actuarial loss / (gain) (A) +(B)
Actuarial loss / (gain) recognized in the period
Unrecognized actuarial loss / (gain) at the end of the year
Pension
(Funded)
Gratuity
(Funded)
29850
0
-29850
-29850
NIL
2266
0
-2266
-2266
NIL
(A in lakhs)
D. Amount recognized in Balance Sheet

Particulars
Present value of defined benefit obligation as at 31st March 2011
Less: Fair Value of Plan Assets as at 31st March 2011
Funded in Advance
Unrecognized transitional liability
Unfunded net liability / (asset) recognized in Balance Sheet
Pension
(Funded)
Gratuity
(Funded)
147000
147000
NIL
NIL
NIL
53700
42440
NIL
11280
20
Current service cost

Interest cost
Transitional liability recognized during the year
Less:Expected return on plan assets & contribution
Net Actuarial loss/(gain) recognized in the year
Net benefit expense
Pension
(Funded)
Gratuity
(Funded)
4862
9191
NIL
9191
-29850
34712
1496
2873
2820
2978
-2266
6477
Pension
(Funded)
Gratuity
(Funded)
0
34712
34712
0
0
6477
5179
1298
F. Movements in the Liability recognized in the Balance Sheet

Particulars
Opening Net Liability
Net Benefit Expense
Contribution paid
Closing Net Liability
G. Investment percentage maintained by the trust
Particulars
Central Government & State Government securities

Investment in Corporate Bonds
Other investments
Leave
Encashment
(Unfunded)
18160
18160
NIL
NIL
0
(A in lakhs)
E. Expenses recognized in the Profit & Loss Account

Particulars
Leave
Encashment
(Unfunded)
1025
0
-1025
-1025
NIL
Pension
(Funded)
55.00
40.00
5.00
Leave
Encashment
(Unfunded)
795
1210
NIL
0
-1025
3030
(A in lakhs)
Leave
Encashment
(Unfunded)
0
3030
3030
0
(in%)
Gratuity
(Funded)
55.00
40.00
5.00
NOTES TO ACCOUNTS
Particulars
107
O. VwbZn H$s {V{W na _yb ~r_mH$Z nydmZw_mZ (^maV AmgV Ho$ $n _| A{^`V)
{ddaU
Ny>Q> Xa
`moOZm AmpV`m| na bm^ H$s AZw_m{ZV Xa
doVZ _| d{ H$s Xa
H$_Mmar Am` ``
_`Vm
`wV Umbr
(% _|)
AdH$meZH$XrH$aU
(A{Z{Y~)
n|eZ
({Z{Y~ )
CnXmZ
({Z{Y~ )
8.5
8.5
8.5
8.5
3.5
8.5
3.5
8.5
3.5
Ja _hdnyU
OrdZ ~r_m {ZJ_ (1994-96) _`Vm Xam| H$s Vm{bH$m
moOoQ>oS> `y{ZQ> bmJV Umbr
P. JUZm _| {bò Jò ~r_mH$Z nydmZw_mZ H$m AmYma

{ddaU
nydmZw_mZ H$m AmYma
Ny>Q> Xa
Xg dfr` gaH$mar {V^y{V`m| na goo bm^
`moOZm AmpV`m| na bm^ H$s AZw_m{ZV Xa
EH$ dm H$s `mO Xa
doVZ _| d{ H$s Xa
~r_mH$Z _y`{ZYmaU _| ^{d` H$s doVZ d{ H$m AZw_mZ _hJmB, d[aR>Vm, nXmo{V VWm
A` mg{JH$ H$maH$m| Ogo {Z`moVm ~mOma _| ny{V Ama _mJ H$mo JUZm _| boH$a {H$`m J`m h &
H$_Mmar Am` ``
Ja _hdnyU
26.
~r_m {d{Z`m_H Ama {dH$mg m{YH$aU (AmB Ama S>r E) Ho$ n[an 067/AmB Ama S>r E/E\ &E/n[a/_mM-08 {X. 28.03.08 Ho$ AZwgma df Ho$
XmamZ {ZZ{b{IV `` CnJV {H$ò Jò :
i)
A 11342.86 bmI (A 6705 bmI)

AmCQ>gmo{gJ ``
ii)
A 3790.98 bmI (A 2387 bmI)

`dgm` {dH$mg Ho$ _X _|
iii)
{dnUZ CWmZ Ho$ _X _|

ey` (ey`)
27.
g~{YV nj H$m H$Q>rH$aU E Eg 18

g~{YV nj H$m Zm_ Ama H$nZr Ho$ gmW CZH$m g~Y
A) {Z`{V H$nZr
Oo{ZW go`y[aQ>rO ES> BdoQ>_oQ>g {b{_Q>oS>

1) B{S>`m BQ>aZoeZb B`ya|g mBdoQ> {b{_Q>oS>, qgJnwa
Am) g~ H$nZr
2) Ho$Z B{S>`m E`ya|g H$nZr {b{_Q>oS, Ho$`m

H$m` {ddam
B{S>`m BQ>aZoeZb B`ya|g
mBdoQ> {b{_Q>oS>
H$_ g.
{ddaU
1.
2
3
4
5
gm`me _| {Zdoe (eoàm| H$s g`m )

df Ho$ XmamZ m bm^mm
nwZ~u_m H$mamo~ma
H$mo ~H$m`m - `j
go ~H$m`m - `j
m` A` ~H$m`m
{ZXoeH$m| H$m doVZ
Ho$Z B{S>`m E`ya|g

H$nZr {b{_Q>oS
2010-11
2009-10
2010-11
5000000
5000000
332790
2009-10
332790
(nò bmIm| _|)
10.30
126.48
123.36
ey`
ey`
115.91
103.67
1.44
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
ey`
1.25
1.10
H$nZr Ama CZH$s {Z`{V H$nZr am` gaH$ma Ho$ {ZÙmYrZ hmoZo go ^maVr` gZXr boImH$ma H$s gWm mam Omar boIm _mZH$ -18 H$s AnojmAm| Ho$
AZwnmbZ _| H$m` {ddaU go g~{YV H$Q>Z Zht {H$`m J`m &
108
H. Principal Actuarial assumption at the Balance Sheet date (expressed as weighted average)
Particulars
Discount rate
Expected rate of return on plan assets
Rate of escalation in salary
Employee turnover
Mortality
Method used
Pension
(Funded)
(in %)
Gratuity
(Funded)
Leave
Encashment
(Unfunded)
8.5
8.5
3.5
8.5
8.5
3.5
8.5
8.5
3.5
NOT SIGNIFICANT
LIC (1994-96) TABLE OF MORTALITY RATES
Projected Unit Credit Method
I. Basis of Actuarial assumption considered

Particulars
Discount rate
Expected rate of return on plan assets
Rate of escalation in salary
Employee turnover
Basis of assumption
Yield on 10 Year Government Securities
One year Interest rate
The estimates of future salary increase considered in actuarial
valuations taking into account inflation, seniority, promotion and other
relevant factors, such as supply and demand in employment market.
NOT SIGNIFICANT
26. In terms of IRDA Circular 067/IRDA/F&A/CIR/MAR-08 dated 28.03.08, expenses incurred under the
following heads are disclosed :
A 11342.86 lakhs (A 6705 lakhs)
i)
Outsourcing expenses
A 3790.98 lakhs (A 2387 lakhs)

ii)
Business Development
iii)
Marketing Support
NIL (NIL)
27. Related party disclosures: AS 18
Name of the Related Party and their relationship with the Company:
a) Subsidiary
:
Zenith Securities and Investments Limited
b) Associate Companies :
1. India International Insurance Pvt. Ltd., Singapore
2. Ken India Assurance Co. Ltd., Kenya
Sl. No.
Particulars
1.
Investment in Equity (No. of Shares)
2.
Dividend received during the year
3.
Reinsurance transactions:
- Due to - Direct
- Due from- Direct
India International
Insurance Pvt. Ltd.
2010-11
2009-10
Ken India Assurance

Co. Ltd.
2010-11
2009-10
5000000
5000000
126.48
123.36
332790
332790
(Amount in Lakhs)
0
10.30
115.91
103.67
1.44
4.
Other Dues receivable
5.
Directors' Remuneration
1.25
1.10
Since the Company and its Subsidiary are State controlled, no disclosures are made pertaining to the transactions
with them in accordance with the requirements of the Accounting Standard AS-18.
NOTES TO ACCOUNTS
Details of Transactions :
109
B) _w` ~YZ H$m`nmbH$

lr. Or. lr{ZdmgZ, A`j gh ~Y {ZXoeH$
lr. {m{bX E IamV, {ZXoeH$ d _hm ~YH$
lr. dr. hfdYZ, {ZXoeH$ d _hm ~YH$
B)
H$m`{ddaU H$s H${V

1.
2.
28.
doVZ, ^Vm Ama AeXmZ

31.03.2011 H$mo Xo` ~H$m`m G$U
A 50.35 bmI (A 37.03 bmI )
ey` (ey`)
boIm _mZH$ 20 Ho AZwgma "{V eoà H$m Am`" H$m H$Q>Z
H$_ g.
1
2
3
{ddaU
eoàYmaH$m| Ho$ {bE CnbY ew bm^ (nò bmIm| _|)
A{Y_mZ AmgV na Omar gm`me moàm| H$s g`m
òH$ A 10 Ho$ {V eoà go Am` (A)
(nò bmIm| _|)

JV df
Mmby df
13054
70779
15,00,00,000
15,00,00,000
8.70
47.19
H$nZr Ho$ nmg H$moB ~H$m`m _X g^m` gm`me eoà Zht h & BgHo$ n[aUm_d$n H$nZr Ho$ _yb Ama {V moà go m` Am` _| H$moB n[adVZ Zht h &
29.
boIm _mZH$ ( E.Eg.22) Ho$ AZwgma b{~V H$a AmpV / Xo`Vm H$mo g_`mH$a AmYma na _m`Vm H$s Anojm Zht h, &
30.
~YZ H$s am` _| H$nZr H$s n[agnpV`m| _| H moB _y`mg Zht h Omo ^maVr` gZXr boImH$ma gWm mam Omar boIm _mZH$ 28 Ho$ AZwgma
gmm`moOZm H$s Anojm h &
31.
{nN>br Ad{Y Ho$ _Xm| H$mo g~{YV erfm] Ho$ VhV gp_{bV {H$`m J`m h Ama {ddaU {ZZmZwgma h :
(nò bmIm| _|)
{ddaU
nyd Ad{Y Am`

nyd Ad{Y ``
2010-11
2009-10
17.39
920.16
936.16
2686.81
32. ~YZ mam _m{UVmZwgma jodma gH$b r{_`_ H$m {ddaU
H$_ g.
{ddaU
1.
Jm_rU jo [Omar nm{b{g`m| H$s g`m -
2.
gm_m{OH$ jo [Amd[aV `pV`m| H$s g`m -
4995171 (4745713)]
16299413 (11190930)]
3.
A` jo
Hw$b H$mamo~ma
(nò bmIm| _|)

31 _mM 2011
31 _mM 2010
_y`
_y`
87878.46
13.78
76209.15
14.55
32566.10
5.11
26265.82
5.02
517221.17
81.11
421430.31
80.44
637665.73
523905.28
33. {VYmaU Ama nwZ~u{_V Omo{I_ H$s gr_m H$m {ddaU
H$_ g.
1.
2.
110
{ddaU
{VYmaU Omo{I_ (%)
nwZ~u{_V Omo{I_ (%)
31 _mM 2011
31 _mM 2010
80.24
79.98
19.76
20.02
c)
Key Management Personnel:

Sri G. Srinivasan, Chairman-cum-Managing Director
Sri. Milind A Kharat, Director & General Manager
Sri. V.Harshavardhan, Director & General Manager
d)
Nature of Transactions:
1.
2.
Salaries, allowances and contributions

Loan Balances due as on 31.03.2011
A 50.35 lakhs (A 37.03 lakhs)

NIL (NIL)
28. Disclosure as per AS 20 "Earnings Per Share"

Sl.No.
(A in lakhs)
Particulars
Net Profit attributable to Shareholders (A in Lakhs)
Weighted Average Number of Equity Shares issued (in Nos.)
Basic earnings per Share of A 10/- each (A)
Current Year
Previous Year
13054
70779
15,00,00,000
15,00,00,000
8.70
47.19
The Company does not have any outstanding dilutive potential equity shares. Consequently, the basic and diluted
earning per share of the Company remains the same.
29. The effect of timing difference is not material. Hence recognition of Deferred Tax Asset/Liability in terms of
Accounting Standard AS-22 is not required for the year.
30. In the opinion of the management, there is no impairment of assets of the Company that require any adjustment
to be made in terms of Accounting Standard AS-28.
31. Prior period items have been included in the respective heads and consist of the following:
Prior period income

Prior period expenses
2010-11
2009-10
17.39
920.16
936.16
2686.81
(A in lakhs)
32.The sector-wise Gross Premium underwritten as certified by the Management as follows:

Sl. No.
1.
2.
3.
Particulars
31st March 2011
31st March 2010
Value
Value
Rural Sector [No. of Policies issued 4995171 (4745713)]
87878.46
13.78
76209.15
14.55
Social Sector [Lives covered - 16299413

(11190930)]
32566.10
5.11
26265.82
5.02
Other Sector
517221.17
81.11
421430.31
80.44
Total Business
637665.73
523905.28
33.The details for extent of risk retained and reinsured are as follows:
Sl. No.
Particulars
31st March 2011
31st March 2010
1.
Risk Retained (%)
80.24
79.98
2.
Risk Reinsured (%)
19.76
20.02
NOTES TO ACCOUNTS
Particulars
(A in lakhs)
111
34.
Am` H$a Ho$ {bò

mdYmZ
{ddaU
df Ho$ ma^ _| eof
OmoS>
Cn`wV
{ZamH$aU
df Ho$ AV _| eof
AdH$me ZH$XrH$aU
Ho$ {bò mdYmZ
2010-11
2009-10
2010-11
2009-10
2010-11
2009-10
22107.34
70.00
33.47
6029.40
16114.47
15061.99
11600.00
27.06
4527.59
22107.34
15130.00
3030.00
0.00
0.00
18160.00
14989.00
752.00
0.00
611.00
15130.00
19143.92
475.08
0.00
3389.79
16229.21
21291.00
396.87
0.00
2543.95
19143.92
35. 31.3.2011 H$mo {ZZ{b{IV H$mamo~ma
AZwgma H${Q>V h :
IS>m| _| r{_`_ H$s H$_r nhMmZm J`m h Ama ~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU Ho$ nam_e Ho$
(nò bmIm| _|)
H$_r
IS
2010-11
2009-10
_moQ>a - VVr` nj
_moQ>a - VVr` nj nyb
dm` & AnVm{bH$aU
g_wXr nmoV
4099.38
1091.58
21915.77
3341.80
6392.32
190.48
36.
doVZ m| 01.08.2007 go 31.03.2010 Ad{Y hoVw ~H$m`m doVZ A 10217 bmI ^r gpmbV h &
37.
n`mdaU Ama dZ mmb` Zo amOn A{YgyMZm {XZm{H$V 4.11.08 Ho$ mm`m go H$nZr H$mo n`mdaU amhV {Z{Y Ho$ {Z{Y ~YH$ Ho$ $n m|
{Z`wV H$s & {ZmmU, ewH$ n[aH$bZ H$s Umbr gm{d{YH$ AnojmAm| Ama A` MmbZ mmmbm| Ho$ g~Y m| nQ>rH$aU Ano{jV h & H${WV
A{YgyMZm Ho$ AZwgma H$nZr Zo {Z{Y ~YH$ godm ^ma Ho$ {bE df Ho$ XmamZ A 28.89 bmI (A 44.17 bmI ) H$mo Am` Ho$ $n m| mm`Vm Xr
h,`h {Z{Y Ho$ AZHo${jV boIm Ho$ AmYma na h &
38. {d{^ gaH$mar m{YH$mam| mam XS>m_H$
H$m g.
1
2
3
4
5
6
7
8
9
10
112
(nò bmIm| _|)

emo` Ama g{XY G$U
Ho {bò mdYmZ
mdYmZ H m {ddaU
m{YH$aU
H$madmB H$m {ddaU
(nò bmIm| _| )
Ja AZwnmbZ / OwmmZm
AXm H$s OwmmZm A{Y`mJ /
CbKZ
J`r OwmmZm
H$Q>mVr
newH H m CbKZ 10.00 10.00
0.00
~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU

godm H$a m{YH$mar
Am` H$a m{YH$mar
A` H$a m{YH$mar
dVZ {ZXoemb` / {ZU`H$ m{YH$ma / A{YH$aU `m
E_.B.E_.E Ho$ VhV H$moB m{YH$ma
H$n{Z`m| Ho$ nOr`H$ / EZgrEbQ>r/ grEb~r / H$nZr A{Y{Z`_
1956 Ho$ VhV {ZJ_r` H m` {d^mJ `m A` m{YH$mar
`m`mb`/ A{YH$aU mam j{Vny{V H$mo N>moS>H$a, Xmdm
{ZnQ>mZ g{hV {H$gr _m_mbm hoVw Omar OwmmZm AmXoe
go~r
^maVr` {V`mo{JVm Am`wV
H$moB A` Ho$r` / am` / WmZr` gaH$ma /
gm{d{YH$ m{YH$ma
newH H m CbKZ
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
0
19.04
19.04
0.00
(A in lakhs)
34. Details of Provisions

Provision for
Income Tax
Particulars
Opening balance
Additions
Utilisation
Reversals
Closing balance
Provision for Leave

Encashment (Long Term)
Provision for
Bad and Doubtful Debts
2010-11
2009-10
2010-11
2009-10
2010-11
2009-10
22107.34
70.00
33.47
6029.40
16114.47
15061.99
11600.00
27.06
4527.59
22107.34
15130.00
3030.00
0.00
0.00
18160.00
14989.00
752.00
0.00
611.00
15130.00
19143.92
475.08
0.00
3389.79
16229.21
21291.00
396.87
0.00
2543.95
19143.92
35. Premium deficiency in the following segments of business has been identified as on 31.03.2011 and disclosed
as advised by IRDA :
(A in lakhs)
Segment
Motor TP
Motor TP Pool
Health & Hospitalisation
Marine Hull
Deficiency
2010-11
2009-10
4099.38
1091.58
21915.77
3341.80
6392.32
190.48
36. Salaries include a sum of A 10217 lakhs towards arrears of salaries for the period from 01.08.2007 to
31.03.2010.
37. The Company was appointed as Fund Manager for Environment Relief Fund (ERF) vide Ministry of
Environment and Forests Gazette Notification dated 4.11.08 for a period of five years. Pending receipt of
clarification regarding Constitution, method of calculation of fees, statutory requirements and other
operational issues, the Company in terms of the said notification has recognised Fund Manager's service
charges to the tune of A 28.89 lakhs (A 44.17 lakhs) as income during the year, based on the unaudited accounts
of the Fund.
38. Details of penal actions taken by various Government Authorities:
1
2
3
4
5
6
8
9
10
Authority
Non-Compliance / Penalty Penalty Penalty Waived /

Violation
Awarded Paid
Reduced
Insurance Regulatory and Development Authority Breach of tariff 10.00 10.00
0.00
Service Tax Authorities
0
0
0
Income Tax Authorities
0
0
0
Any other Tax Authorities
0
0
0
Enforcement Directorate/Adjudicating Authority/
Tribunal or any Authority under FEMA
0
0
0
Registrar of Companies / NCLT / CLB /
Department of Corporate Affairs or
any Authority under Companies Act, 1956
0
0
0
Penalty awarded by any Court / Tribunal
for any matter including claim settlement
but excluding compensation
0
0
0
Securities and Exchange Board of India
0
0
0
Competition Commission of India
0
0
0
Any other Central/State/Local Government/
Statutory Authority
Breach of tariff 19.04 19.04
0.00
NOTES TO ACCOUNTS
Sl.No
(A in lakhs)
113
39.
H$nZr Ho$ nmg, mmBH mo, bKw Ama m` CmoJ {dH$mg A{Y{Z`m 2006 Ho$ VhV XmH$ H$mo Xo` am{e H$m {ddaU CnbY Zht h & AV 31 mmM
bKw Ama m` CmoJ H$mo Xo` am{e H$m {ddaU {dVr` {ddaU m| H${Q>V Zht {H$`m J`m h &
2011 H$mo mmBH mo

40.
Mmby df Ho$ dJuH$aU Ho$ AZwnmbZ H$aZo Ho$ {bò Ohm Amd`H$ hmo JV df Ho$ AmH S>o nwZdJuH$V {H$ò Jò h & {dVr` {ddaU _| d{UV
{hgo _| AmH S>o nò hOmam| _| h &
Or. lr{ZdmgZ
A`j gh ~Y {ZXoeH$
VU ~OmO
Qr.E_. ^grZ
{_{bX E IamV
dr.hfdYZ
~r. E_. R>H$a

{dVr` gbmhH$ma
{ZXoeH$JU
Eg. d|H$Q>am_Z
H$nZr g{Md
h_mao gbZ {VdoXZ Ho$ Azwgma
H$Vo AmZX ES> nmonZ

gZXr boImH$ma

gZXr boImH$ma

gZXr boImH$ma
grE Ama. nmonZ


grE Or. Ama. h[a

Mo
28 Ab 2011
114
39.
The information as to amount due to suppliers under the Micro, Small and Medium Enterprises Development
Act 2006 is not readily available with the Company and hence disclosure in respect of the amount payable to
st
such Micro, Small and Medium Enterprises as at 31 March 2011 has not been made in the financial
statements.
40.
Regrouping/reclassifying/rearranging of previous year figures has been done wherever necessary to conform
to current year groupings/classifications. Figures in the narrative part of financial statements are in thousands
of Rupees, conforming to IRDA norms.
For and on behalf of the Board

G. SRINIVASAN
B.M. Thakkar
Financial Advisor
Directors
S. Venkataraman
Company Secretary
Vide our report of date attached

ICAI FRN: 000111S

ICAI FRN:001676S

ICAI FRN:001997S
Chennai
28th April 2011
NOTES TO ACCOUNTS
Tarun Bajaj
T.M. Bhasin
Milind A Kharat
V.Harshavardhan
115

AZwbZH$ I : boIm AZwnmV
gH$b r{_`_
{ddaU
2010-11
2009-10
8053251.74
(A 000)
d{ Xa
2010-11
2009-10
6522542.37
23.47%
13.87%
2734435.73
2753421.54
-0.69%
24.25%
2280852.44
1782197.76
27.98%
54.52%
21240011.47
18266405.05
16.28%
16.83%
693904.06
539946.24
28.51%
10.90%
1720488.55
1537674.21
11.89%
12.20%
251039.39
294526.93
-14.77%
-8.60%
4182085.29
17117571.42
3032883.01
12654097.52
37.89%
35.27%
21.39%
40.49%
555379.43
464776.78
19.49%
16.23%
4937553.61
4542056.71
8.71%
14.69%
63766573.14
52390528.12
21.71%
22.47%
63766573.14
52390528.12
41524458.12
36135905.50
153.56%
144.98%
42479331.83
41524458.12
41524458.12
36135905.50
2.30%
14.91%
1.
gH$b r{_`_
ApZ
g_wr Zm^ma
g_wr nmoV
_moQ>a
H$_H$ma {VH$ma
`pVJV XwKQ>Zm
{d_mZZ
BOr{Z`[aJ
dm`
Xm{`d
A` {d{dY
Hw$b OmoS>
2. eoàYmaH$m| H$s {Z{Y _| gH$b r{_`_
gH$b r{_`_
eoàYmaH$m| H$s {Z{Y ( df Ho$ ma^ _| )
AZwnmV
3. eoàYmaH$m| H$s {Z{Y _| d{ Xa
df Ho$ AV _|
df Ho$ ma^ _|
d{ Xa
4.
ew {VYmaU AZwnmV
ApZ
g_wr Zm^ma
g_wr nmoV
_moQ>a
H$_H$ma {VH$ma
`pVJV XwKQ>Zm
{d_mZZ
BOr{Z`[aJ
dm`
116
ew r{_`_
ew r{_`_
2010-11
2009-10
{VYmaU
AZwnmV
{VYmaU
AZwnmV
5100827.22
4056581.40
63.34%
62.19%
2101902.33
2217193.60
76.87%
80.53%
389439.84
292521.73
17.07%
16.41%
18893047.67
16148360.02
88.95%
88.40%
624514.29
485954.22
90.00%
90.00%
1334431.53
1138211.54
77.56%
74.02%
48895.81
33202.67
19.48%
11.27%
2704614.86
1913934.47
64.67%
63.11%
15345172.87
11345506.28
89.65%
89.66%

Registration No. 545, Date of Renewal with IRDA : 10th March 2010
ANNEXURE I : ACCOUNTING RATIOS
Gross Premium
(A in 000)
Growth
Particulars
2010-11
2009-10
2010-11
2009-10
Fire
8053251.74
6522542.37
23.47%
13.87%
Marine Cargo
2734435.73
2753421.54
-0.69%
24.25%
Marine Hull
2280852.44
1782197.76
27.98%
54.52%
1. Gross Premium
Motor
21240011.47
18266405.05
16.28%
16.83%
W.C
693904.06
539946.24
28.51%
10.90%
P.A
1720488.55
1537674.21
11.89%
12.20%
251039.39
294526.93
-14.77%
-8.60%
4182085.29
3032883.01
37.89%
21.39%
17117571.42
12654097.52
35.27%
40.49%
555379.43
464776.78
19.49%
16.23%
Other Misc.
4937553.61
4542056.71
8.71%
14.69%
Grand Total
63766573.14
52390528.12
21.71%
22.47%
Gross Premium
63766573.14
52390528.12
Shareholders' Fund (at the beginning of year)
41524458.12
36135905.50
153.56%
144.98%
At the end of the year
42479331.83
41524458.12
At the beginning of the year
41524458.12
36135905.50
2.30%
14.91%
2010-11
2009-10
Retention
Retention
Ratio
Ratio
Aviation
Engineering
Health
Liability
Ratio
3. Growth rate of Shareholders' Funds
Growth rate
4. Net Retention Ratio
Net Premium
Net Premium
Fire
5100827.22
4056581.40
63.34%
62.19%
Marine Cargo
2101902.33
2217193.60
76.87%
80.53%
389439.84
292521.73
17.07%
16.41%
18893047.67
16148360.02
88.95%
88.40%
W.C
624514.29
485954.22
90.00%
90.00%
P.A
1334431.53
1138211.54
77.56%
74.02%
48895.81
33202.67
19.48%
11.27%
2704614.86
1913934.47
64.67%
63.11%
15345172.87
11345506.28
89.65%
89.66%
Marine Hull
Motor
Aviation
Engineering
Health
2. Gross Premium to Shareholders Funds
117
Xm{`d
A` {d{dY
Hw$b OmoS>
5. ew H _reZ AZwnmV
ApZ
g_wr Zm^ma
g_wr nmoV
_moQ>a
H$_H$ma {VH$ma
`pVJV XwKQ>Zm
{d_mZZ
BOr{Z`[aJ
dm`
Xm{`d
A` {d{dY
Hw$b OmoS>
6. gH$b `j r{_`_ AZwnmV _|
~YZ IM
~YZ IM
Hw$b `j r{_`_
AZwnmV
7. g`wV AZwnmV
Hw$b CnJV Xmdo
~YZ IM
`j H$_reZ
Hw$b
Hw$b `m r{_`_
AZwnmV
8. ew r{_`_ AZwnmV _| VH$ZrH$s Ama{{V
Ag_m Omo{I_m| Ho$ {bò Ama{V
r{_`_ H$s H$_r Ama{V
~H$m`m Xmdo Ho$ {bò Ama{V
Hw$b
e r{_`_
AZwnmV
118
470419.17
374622.04
84.70%
80.60%
4156183.53
3895476.41
84.17%
85.76%
51169449.12
41901564.37
80.24%
79.98%
ew H _reZ
ew H _reZ
2010-11
2009-10
AZwnmV
AZwnmV
24021.80
-44141.12
0.47%
-1.09%
223758.56
265782.30
10.65%
11.99%
-89090.05
-37573.73
-22.88%
-12.84%
891554.97
566595.28
4.72%
3.51%
52882.90
41582.68
8.47%
8.56%
140861.41
142455.51
10.56%
12.52%
2682.53
-1762.36
5.49%
-5.31%
-20162.68
-7688.30
-0.75%
-0.40%
938892.39
915071.15
6.12%
8.07%
50835.96
50265.18
10.81%
13.42%
499146.91
438859.22
12.01%
11.27%
2715384.71
2329445.80
5.31%
5.56%
2010-11
2009-10
17253842.11
11569945.58
63766573.14
52390528.12
27.06%
22.08%
2010-11
2009-10
47297411.34
37458909.49
17253842.11
11569945.58
4199299.88
3857589.28
68750553.32
52886444.35
63766573.14
52390528.12
107.82%
100.95%
2010-11
2009-10
25925773.73
21232634.00
0.00
0.00
47085842.15
39705171.48
73011615.87
60937805.48
51169449.12
41901564.37
142.69%
145.43%
Liability
5.
470419.17
374622.04
84.70%
80.60%
Other Misc.
4156183.53
3895476.41
84.17%
85.76%
Grand Total
51169449.12
41901564.37
80.24%
79.98%
Net
Commission
2010-11
Ratio
2009-10
Ratio
24021.80
-44141.12
0.47%
-1.09%
Marine Cargo
223758.56
265782.30
10.65%
11.99%
Marine Hull
-89090.05
-37573.73
-22.88%
-12.84%
Motor
891554.97
566595.28
4.72%
3.51%
W.C
52882.90
41582.68
8.47%
8.56%
P.A
140861.41
142455.51
10.56%
12.52%
2682.53
-1762.36
5.49%
-5.31%
Engineering
-20162.68
-7688.30
-0.75%
-0.40%
Health
938892.39
915071.15
6.12%
8.07%
50835.96
50265.18
10.81%
13.42%
Other Misc.
499146.91
438859.22
12.01%
11.27%
Grand Total
2715384.71
2329445.80
5.31%
5.56%
2010-11
2009-10
Net Commission Ratio

Fire
Aviation
Liability
6.
Expenses of management to
Gross Direct Premium ratio
17253842.11
11569945.58
63766573.14
52390528.12
27.06%
22.08%
2010-11
2009-10
Gross Incurred Claims
47297411.34
37458909.49
17253842.11
11569945.58
4199299.88
3857589.28
Total
68750553.32
52886444.35
63766573.14
52390528.12
Ratio
107.82%
100.95%
Technical Reserves to net premium ratio
2010-11
2009-10
Reserve for Unexpired Risks
25925773.73
21232634.00
Premium Deficiency Reserve
0.00
0.00
Reserve for O/s Claims
47085842.15
39705171.48
Total
73011615.87
60937805.48
Net Premium
51169449.12
41901564.37
142.69%
145.43%
Ratio
7.
Combined Ratio
Direct Commission
8.
Net
Commission
Ratio
119
9.
10.
11.
12.
13.
14.
*
120
~r_mboIZ eof AZwnmV

ApZ
g_wr Zm^ma
g_wr nmoV
_moQ>a
H$_H$ma {VH$ma
`pVJV XwKQ>Zm
{d_mZZ
BOr{Z`[aJ
dm`
Xm{`d
A` {d{dY
Hw$b OmoS>
MmbZ bm^ AZwnmV
~r_mboIZ bm^
{Zdoe Am`
A`
MmbZ bm^
ew r{_`_
AZwnmV
$Xm{`d AZwnmV _|o ZH$Xr n[agn{V`m
ZH$Xr n[agnpV`m *
nm{bgrYmaH$m| H$s Xo`VmE
AZwnmV
ew Am` AZwnmV
H$a Ho$ ~mX bm^
ew r{_`_
AZwnmV
ew _y` go m Am`
H$a Ho$ ~mX bm^
ew _y`
AZwnmV
nwZ~u_m AZwnmV
A{nV nwZ~u_m r{_`_
ew r{_`_
AZwnmV
~r_mboIZ
bm^
~r_mboIZ
bm^
2010-11
2009-10
AZwnmV
AZwnmV
-789624.57
758429.58
-15.48%
18.70%
-307674.41
-730301.34
-14.64%
-32.94%
-506520.03
-278216.83
-130.06%
-95.11%
-9003047.49
-2955619.31
-47.65%
-18.30%
159856.96
251463.04
25.60%
51.75%
-187198.31
49623.33
-14.03%
4.36%
-38888.60
-54786.23
-79.53%
-165.01%
-236325.07
304843.86
-8.74%
15.93%
-7134348.82
-6528530.22
-46.49%
-57.54%
189417.24
505042.04
336535.94
36685.43
40.27%
12.15%
89.83%
0.94%
-17349311.07
-8809872.77
-33.91%
-21.03%
2010-11
2009-10
-17349311.07
-8809872.77
10996179.42
9998829.21
182720.97
618118.30
-6170410.68
1807074.74
51169449.12
41901564.37
-12.06%
4.31%
2010-11
2009-10
35235554.02
36799980.24
73011615.87
48.26%
60937805.48
60.39%
2010-11
2009-10
1305447.56
7077901.66
51169449.12
41901564.37
2.55%
16.89%
2010-11
2009-10
1305447.56
42454488.37
7077901.66
41497479.22
3.07%
17.06%
2010-11
2009-10
19940177.70
16378851.10
63766573.14
31.27%
52390528.12
31.26%
ZH$Xr n[agnpV`m| _| ZH$X d ~H$ eof, AnH$mbrZ G$U Ama AnH$mbrZ {Zdoe Ama A{J_ d O_m gp_{bV h &
Underwriting Balance Ratio
Underwriting
Profit
Underwriting
Profit
2010-11
Ratio
Fire
-789624.57
758429.58
-15.48%
18.70%
Marine Cargo
-307674.41
-730301.34
-14.64%
-32.94%
Marine Hull
-506520.03
-278216.83
-130.06%
-95.11%
-9003047.49
-2955619.31
-47.65%
-18.30%
W.C
159856.96
251463.04
25.60%
51.75%
P.A
-187198.31
49623.33
-14.03%
4.36%
-38888.60
-54786.23
-79.53%
-165.01%
-236325.07
304843.86
-8.74%
15.93%
-7134348.82
-6528530.22
-46.49%
-57.54%
Liability
189417.24
336535.94
40.27%
89.83%
Other Misc.
505042.04
36685.43
12.15%
0.94%
Grand Total
-17349311.07
-8809872.77
-33.91%
-21.03%
2010-11
2009-10
Underwriting Profit
-17349311.07
-8809872.77
Investment Income
10996179.42
9998829.21
182720.97
618118.30
Operating Profits
-6170410.68
1807074.74
Net Premium
51169449.12
41901564.37
-12.06%
4.31%
2010-11
2009-10
Liquid Assets*
35235554.02
36799980.24
Policyholders' Liabilities
73011615.87
60937805.48
48.26%
60.39%
2010-11
2009-10
1305447.56
7077901.66
51169449.12
41901564.37
2.55%
16.89%
2010-11
2009-10
1305447.56
7077901.66
42454488.37
41497479.22
3.07%
17.06%
14. Reinsurance Ratio
2010-11
2009-10
RI Premium ceded
19940177.70
16378851.10
Gross Premium
63766573.14
52390528.12
31.27%
31.26%
Motor
Aviation
Engineering
Health
10. Operating Profit Ratio
Others
Ratio
11. Liquid Assets to Liabilities Ratio
Ratio
12. Net Earnings Ratio
Profit after Tax
Net Premium
Ratio
13. Return on Networth
Profit after Tax
Networth
Ratio
Ratio
*
2009-10
Ratio
Liquid Assets consists of Cash and Bank balances, Short-term Loans and Short-term Investments and
Advances & Deposits.
9.
121
{dVr` {ddaU H$m gmame

(nò H amoS| _|)
H_ g.
{ddaU
2010-11
2009-10
2008-09
2007-08
2006-07
MmbZ n[aUm_
1
gH$b r{_`_ m
6376.66
5239.05
4277.77
3739.56
3498.77
ew r{_`_ Am`
5116.94
4190.16
3510.41
2880.66
2529.53
{Zdoe go m Am` (ew) @
1099.62
999.89
653.75
972.56
857.25
4
5
A` Am` / `` ({ddaUmZwgma)
Hw$b Am`
18.27
6234.83
61.81
5251.85
5.80
4169.96
11.68
3864.9
-11.27
3375.51
H$_reZ (ew)
271.54
232.95
199.44
136.61
67.76
7
8
9
~moH$aoO
MmbZ IM
1725.38
1156.99
1031.40
912.55
894.45
Xmdo, Ag_m Omo{I_ Ama{j{V Ama

A` `` _| d{
MmbZ bm^ / hm{Z
4854.95
-617.04
3681.20
180.71
2826.36
112.76
2684.85
130.89
2298.35
114.95
10
Ja-MmbZ n[aUm_
11
eoàYmaH$m| H o ImVo Ho$ AYrZ Hw$b Am`
747.87
642.13
390.15
527.25
405.39
12
H$a Ho$ nyd bm^ / (hm{Z)
130.83
822.84
502.91
658.14
520.34
13
H$a Ho$ {bE mdYmZ
0.28
115.05
26.86
26.52
8.52
14
H$a Ho$ ~mX bm^ / hm{Z
130.54
707.79
476.05
631.62
528.86
Hw$b {Z{Y
7301.16
6093.78
5723.83
5462.46
5034.56
Hw$b {Zdoe
7110.54
5503.80
5129.89
5046.91
4709.32
{Zdoe go Am`
15.72%
19.29%
12.86%
19.50%
17.97%
Hw$b {Z{Y
4247.93
4152.45
3613.59
3244.33
2760.5
Hw$b {Zdoe
4137.03
3750.42
3238.62
2995.53
2582.17
{Zdoe go Am`
18.08%
17.12%
11.47%
16.36%
16.58%
17
MwH$Vm gm`me eoà
150.00
150.00
150.00
150.00
150.00
18
ew _y`
4245.45
4149.75
3608.08
3245.69
2761.86
19
Hw$b n[agnpV`m
18677.84
17209.77
12969.08
20
Hw$b {Zdoe go Am`
8.04
7.65%
7.57%
8.04%
8.91%
21
{V eoà go Am` (A)
8.70
47.19
31.74
42.11
35.26
22
{V eoà H$m ImVm _y` (A)
283.03
276.65
250.54
216.04
184.03
23
Hw$b bm^me
30.00
142.00
96.00
126.33
105.77
24
{V eoà na bm^me (A)
2.00
9.47
6.40
8.42
7.05
{d{dY
15
16
nm{bgrYmaH$m| H$m ImVm
eoàYmaH$m| H$m ImVm
# ew nwZ~u_m
@ ew hm{Z
122
15224.16 13279.18
SUMMARY OF FINANCIAL STATEMENTS

(A in Crores)
S.No.
Particulars
2010-11
2009-10
2008-09
2007-08
2006-07
OPERATING RESULTS
1
Gross Premiums Written
6376.66
5239.05
4277.77
3739.56
3498.77
Net Premium Income
5116.94
4190.16
3510.41
2880.66
2529.53
Income from investments (net) @
1099.62
999.89
653.75
972.56
857.25
Other income / outgo (Pl. specify)
18.27
61.81
5.80
11.68
-11.27
Total income
6234.83
5251.85
4169.96
3864.9
3375.51
Commissions (Net)
271.54
232.95
199.44
136.61
67.76
Brokerage
Operating Expenses
1725.38
1156.99
1031.40
912.55
894.45
Claims, increase in Unexpired

Risk Reserve and other outgoes
4854.95
3681.20
2826.36
2684.85
2298.35
Operating Profit / Loss
-617.04
180.71
112.76
130.89
114.95
Total income under

Shareholders Account
747.87
642.13
390.15
527.25
405.39
12
Profit / (loss) before tax
130.83
822.84
502.91
658.14
520.34
13
Provision for tax
0.28
115.05
26.86
26.52
8.52
14
Profit / loss after tax
130.54
707.79
476.05
631.62
528.86
Total funds
7301.16
6093.78
5723.83
5462.46
5034.56
Total investments
7110.54
5503.80
5129.89
5046.91
4709.32
Yield on investments
15.72%
19.29%
12.86%
19.50%
17.97%
Total funds
4247.93
4152.45
3613.59
3244.33
2760.5
Total investments
4137.03
3750.42
3238.62
2995.53
2582.17
Yield on investments
18.08%
17.12%
11.47%
16.36%
16.58%
17
Paid up equity capital
150.00
150.00
150.00
150.00
150.00
18
Net worth
4245.45
4149.75
3608.08
3245.69
2761.86
19
Total assets
18677.84
17209.77
12969.08
10
11
MISCELLANEOUS
15
16
Policyholders Account :
Shareholders Account :
15224.16 13279.18
20
Yield on total investments
8.04
7.65%
7.57%
8.04%
8.91%
21
Earnings per Share (A)
8.70
47.19
31.74
42.11
35.26
22
Book value per Share (A)
283.03
276.65
250.54
216.04
184.03
23
Total Dividend
30.00
142.00
96.00
126.33
105.77
24
Dividend per Share (A)
2.00
9.47
6.40
8.42
7.05
# Net of reinsurance
@ Net of losses
SUMMARY OF FINANCIAL STATEMENTS
NON-OPERATING RESULTS
123
31-3-2011 H$mo g_m Ad{Y Ho$ {dVr` {ddaU Ho$ gmW gbZ ~YZ {VdoXZ
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2.
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3.
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5.
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6.
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7.
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8.
31.3.2002 H$mo H$mamo~ma H$s g_m{ go
H$nZr Ho$ hmJ H$mJ EOogr _|o ~r_m boIZ MmbZ ~X H$a {X`m J`m h & amOd {dpQ>`m| VWm
n[agnpV`m| d Xo`VmAm| H$mo h_mar boIm ~{h`m| _| gp_{bV H$a aho h & {H$gr A` {dXoe _| H$nZr H$m H$moB `j MmbZ Zht h &
9.
067/AmB.Ama.S>r.E./E\$&E/n[a/_mM '08 {XZm{H$V 28.3.2008 Ho$ AZwgma 31.3.2011 H$mo g_m nmM dfm] hoVw eof Xmdo H$m
dfdma {dbofU AZwbZH$ _| {X`m J`m h &
10.
h_ _m{UV H$aVo h {H$ VwbZ n Ho$ {bò g{H$` ~mOma _| `mnm[aV gm`me moàm| H m$o NmoSH a A` {Zdoe VWm nman[aH$ {Z{Y H$s `y{ZQ
{OZH$m ew n[agnpV _y` Kmo{fV h, H$mo dmV{dH$ _y` `m H$m _y` na Xemò Jò h& g{H$` ~mOma _| `mnm[aV gm`me H$m `yZV_
_y` A{V_ gy{MV _y` ({dVr` df H$s g_m{ Ho$ EH$ _hrZo Ho$ nyd) na Xemò Jò h Omo Q>mH$ {d{Z_` Ho$ m{YH$V H$moQ>oeZ gy{M`m| Ho$
AmYma na h & nman[aH$ {Z{Y Ho$ `y{ZQm| (d|Ma H$m{nQ>b \$S> a{hV {Ogo bmJV na _y`m{H$V d Ohm ew n[agnpV _y` bmJV go H$m hmo,
Eogo {Zdoem| Ho$ _y` Ho$ Admy`Z Ho$ {bE mdYmZ {H$`m J`m h) H$m _y`mH$Z boIm Ad{Y Ho$ A{V_ H$m`{Xdg na ew n[agnpV _y` Ho$
AmYma na {H$`m J`m h&
g{H ` ~mOma _| `mnm[aV gm`me eoàm| Ed nman[aH$ {Z{Y Ho$ ghr _y` _| Am bm^ / hm{Z go Cn n[adVZ H$mo amOd ImVo _| Zht {b`m
J`m naVw {d{Z`_ Ho$ AZwgma ghr _y` n[adVZ ImVo _| {H$`m J`m h & ghr _y` n[adVZ ImVo _| m{ hoVw b{~V eof {dVaU Ho$ {bE CnbY
Zht h &
{Zdoe Ho$ ~mOma ym` H$s VwbZm _| gaH$mar {V^y{V`m| Ama G$U {V^y{V`m| H$m _y`mH$Z E\$.AmB.E_.E_.S>r.E. Ho$ _mZXS> na {H$`m J`m h&
A` XVmdoOm| H$m _y`mH$Z mdYmZ a{hV bmJV na {H$`m J`m h `{X H$moB hmo &
124
1.
We confirm that the Registration Certificate granted under Section 3 of Insurance Act, 1938 by the Insurance
Regulatory and Development Authority (IRDA) has been renewed and is valid as on 31st March 2011.
2.
We certify that all the undisputed dues payable to statutory authorities have been duly paid.
3.
We hereby confirm that the share holding pattern is in accordance with the statutory and regulatory
requirements and there is no transfer of shares during the year.
4.
The Management hereby confirms and declares that the funds of the holders of policies issued in India have
not been directly or indirectly invested outside India.
5.
We confirm that required solvency margin has been maintained.
6.
We certify that the values of all the assets have been reviewed on the date of the Balance Sheet and necessary
provisions made for diminution/decline in value of assets. The assets set forth in the Balance Sheet are shown
in the aggregate at amounts not exceeding their realisable or market value under the headings - Loans,
Investments, Application Money for Investments, House property in India, Agents Balances, Outstanding
Premium, Interest, Dividends and Rents outstanding, Interest, Dividends and Rents accrued but not due,
amounts due from persons or bodies corporate carrying on insurance business, reserve deposits due from
companies on account of reinsurance, sundry debtors, advance tax and other tax payments, cash, vehicle
loans on contribution basis less recoveries (other than fixed assets which is stated at cost less depreciation).
7.
We confirm that the Company evaluates and monitors closely all risks underwritten under each portfolio for
the risk exposure. Remedial action is initiated to mitigate the risks effectively. Reinsurance Programme is
drawn keeping in view the risk exposure on every portfolio commensurate with the capacity of the Company.
The risk exposure per risk/event for the net account is protected at appropriate levels on the adequate
requirement of the Company on exposure to multiple perils.
8.
The Company's Hong Kong Agency has ceased underwriting operations with effect from close of business as of
31-03-2002. The revenue transactions and the assets and liabilities continue to be accounted in our books of
accounts. The Company has no direct operation in any other foreign country.
9.
Agewise analysis of the claims for the preceding five years ending 31-03-2011, in terms of 067/IRDA/
F & A / CIR/March 08 dated 28-03-2008, has been given in the Annexure.
10. We certify that for the purpose of Balance Sheet, the Investments other than actively traded equity shares and
units of mutual funds (other than Venture Capital Funds) which have declared NAVs have been shown at or
below cost. Equity shares that are actively traded in the market are shown at the lowest of the last quoted
value (within one month prior to the end of the financial year) on the basis of the official quotation of the
Stock Exchanges. Units of mutual funds (other than Venture Capital Funds which are valued at cost and
provision is made for dimunition in value of such investment where NAV is less than cost) are valued on the
basis of the Net Assets Value on the last working day of the accounting period.
The unrealised gain/loss arising due to changes in fair value of actively traded equity shares and mutual fund
investments are not taken to revenue but are taken to the fair value change account in accordance with the
regulation. Pending realisation, the balance in the fair value change account is not available for
distribution.
For the purpose of comparison of market value of investments, government securities and debt securities other
than non-performing assets have been valued on the basis of FIMMDA Guidelines. All other Instruments
other than actively traded equity shares and units of mutual funds (other than Venture Capital Funds) which
have declared NAV have been valued at cost less provisions made, if any.
MANAGEMENT REPORT ON FINANCIAL STATEMENTS
MANAGEMENT REPORT ON FINANCIAL STATEMENTS AS ON 31-03-2011

PREPARED IN ACCORDANCE WITH THE PROVISIONS OF IRDA
(PREPARATION OF FINANCIAL STATEMENTS AND AUDITORS REPORT
TO INSURANCE COMPANIES REGULATIONS 2002)
125
11.
{Zdoe H$m {ZnmXZ :

G$U Ama O_m g{hV {Zdoe H$m ImVm _y` JV df Ho$ A 9254.21 H$amo>S> go A 11247.57 H$amo>S> VH$ ~T> J`m h & df Ho$ XmamZ mw gM`Z
A 1993.37 H$amo>S> h Omo 2009-10 _| 885.71 H$amo>S> Wm &
{Zdoe Am` JV df Ho$ A 674.07 H$amo>S> H$s VwbZm _| A 824.38 H$amoS> h & CV Ad{Y Ho$ XmamZ AmgV {Z{Y Ho$ gH$b bm^ JV df Ho$
7.65% H$s VwbZm _| 8.04% h & JV df Ho$ A 907.85 H$amo>S> H$s VwbZm _| Mmby df _| {Zdoe H$s {~H$s/ n[aemoYZ na A 992.61H$amoS> H$m
bm^ A{OV {H$`m h &
12.
Hw$b {Zdoe _| ew Ja {ZnmXH$ n[agn{V`m| H$m {VeV 31-3-2011 H$mo 0.10 % h Omo 31-3-2010 H$mo 0.02% Wm &
13.
EVXmam nwQ> {H$`m OmVm h {H$ A) 31 _mM 2011 H$mo g_m {dVr` df hoVw dm{fH$ boIm {VdoXZ H$mo V`ma H$aZo _| boIm _mZH$m|, {gmVm| Ama Zr{V`m| H$m AZwnmbZ
{H$`m J`m h Ama dVwJV {dMbZ go g~{YV C{MV nQ>rH$aU {X`m J`m h ;
Am) ~YZ Zo Eogr boIm Zr{V`m| H$m M`Z Ama C{MV `moJ {H$`m h Ama {dVr` df Ho$ AV _| H$nZr H$s n[apW{V Ama g_rjmYrZ
df Ho$ {bò H$nZr Ho$ bm^ H$s ghr Ama C{MV {ZnmXZ H$s pW{V XmZ H$aZo Ho$ {bE C{MV Ama H$m`$H$s pW{V H$m _y`mH Z Ama
AZw_mZ {H$`m h ;
B) ~YZ Zo H$nZr H$s n[agn{V H$s gwajm Ama H$nQ>nyU H$m` VWm A` A[Z`{_VVmAm| H$s$ nhMmZ Ed CZgo gajU Ho$ {bò
~r_m A{Y{Z`_ 1938 (1938 Ho$ 4) / H$nZr A{Y{Z`_ 1956 (1956 Ho$ 1) Ho$ mdYmZm| Ho$ AZwgma n`m boIm {ddaU Ho$
aIaImd Ho$ {bò C{MV Ama n`m `mZ {b`m h ;
B) ~YZ Zo H$m`m_H$ gJR>Z AmYma na {dVr` {ddaU V`ma {H$`m h ; Ama
C) ~YZ Zo gw{ZpMV {H$`m h {H$ `mnma H m AmH$ma d d$n ghr h Ama CgHo$ AZwgma AmV[aH$ boIm narjm Umbr h Omo ^mdembr
T>J go H$màV h &
14.
g~{YV nmH$mam| Ho$ H$m` {ddaU H$s {Q>npU`m Omo ImVmAm| H$m [hgm h Cg_| H${Q>V h &
VU ~OmO
Qr.E_. ^{gZ
{_{bX E IamV
dr.hfdYZ
Or. lr{ZdmgZ
{ZXoeH$JU
WmZ : Mo
{XZmH$ : 28 Ab 2011
126
A`j gh ~Y {ZXoeH$
11. Performance of Investment :

Total book value of Investment including loans and deposits has increased to A 11247.57 crores from
A 9254.21 crores in the previous year. The net accretion during the year amounted to A 1993.37 crores against
A 885.71 crores in 2009-10.
The investment income is A 824.38 crores as compared to A 674.07 crores in the previous year. During the said
period the mean yield on investment funds has been 8.04% as compared to 7.65% in the previous year. Profit on
sale/redemption of investments booked during the year is A 992.61 crores compared to A 907.85 crores of
previous year.
12. The net Non Performing Assets, as a percentage to total investment is at 0.10% as on 31-03-2011 as against
0.02% in 31-03-2010.
a)
in the preparation of the annual accounts for the financial year ended 31st March, 2011,
the applicable Accounting Standards, Principles and Policies have been followed along with proper
explanations relating to material departures;
b)
the Management has selected such accounting policies and applied them consistently and made
judgements and estimates that were reasonable and prudent so as to give a true and fair view of the
state of affairs of the Company at the end of the financial year and of the profit of the company for the
year under review;
c)
the Management has taken proper and sufficient care for the maintenance of adequate accounting
records in accordance with the provisions of the Insurance Act, 1938 (4 of 1938)/Companies Act, 1956
(1 of 1956), for safeguarding the assets of the Company and for preventing and detecting fraud and
other irregularities;
d)
the Management has prepared the financial statements on a going concern basis; and
e)
the Management has ensured that an Internal Audit System commensurate with the size and nature
of the business is in place and is operating effectively.
14. The related party transactions are disclosed in the Notes forming part of accounts.
Tarun Bajaj
T.M. Bhasin
Milind A Kharat
V.Harshavardhan
Chennai
28th April 2011
Directors
G. SRINIVASAN
MANAGEMENT REPORT ON FINANCIAL STATEMENTS
13. It is hereby confirmed that :
127
Xmdm| H$m dmdma {ddaU 31-03-2011

Ageing of Claims as at 31-03-2011
_moQ>a VVr` nj
ApZ
FIRE
`j H$mamo~ma
g_wr Zm^ma
g_wr nmoV
MARINE
CARGO
MARINE
HULL
Direct Business
I)
_moQ>a {ZOr j{V

MOTOR
OWN
DAMAGE
_mo Xw X A
_| b{~V (A)
Pending in
MACT (a)
A` (Am)
nyb (B)
Others (b)
Pool (c)
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
30 {XZ `m Cggo H$_

Ad{Y Ho$ {bò eof
O/s for 30 days
or less
II)
MOTOR THIRD PARTY
342 2000727 550 565647 29
159988 7732 482455
1588
207035
305 2203808 1965 403581
253 514233 429 153122 21
42891 6331 327726
1803
289844
313
39246 2548 437549
318 474971 520 240392 24
44949 5374 282598
2400
399952
339
31342 3476 675846
617 1545717 837 334444 43 211699 8390 455663
5529
863656
866 158367 7881 1470894
3 _hrZo `m Cggo H$_

Ad{Y Ho$ {bò eof
O/s for 3 months
or less
III) 6 _hrZo `m Cggo H$_

naVw 3 _hrZo go
A{YH$ Ad{Y Ho$ {bò eof

O/s for 6 months or
less but more than
3 months
IV) 1 gmb `m Cggo H$_
naVw 6 _hrZo go A{YH$
Ad{Y Ho$ {bò eof

O/s for 1 year or less
but more than
6 months.
V)
3 gmb `m Cggo H$_

naVw 1 gmb go A{YH$
Ad{Y Ho$ {bò eof
O/s for 3 years or less
but more than 1 year
465 1956827 785 881326 55 1266477 7777 482331 26832 3539567 4249 63150022677 3912549
VI) 5 gmb `m Cggo H$_
naVw 3 gmb go A{YH$

Ad{Y Ho$ {bò eof
but more than 3 years
111 291086 188
56127 15 564717
426
37378 31735 3859042 5466 633348 1299 348484
352
42642 66200 7489675 8111
VII) 5 gmb go A{YH$ Ad{Y
Ho$ {bò eof

O/s for more than
5 years
Hw$b / Total
128
259 1414926 135 545315 50
99175
913749
2365 8198487 3444 2776373 237 2389896 36382 2110793 136087 16648772 19649 4611360 39846 7248903
(A in '000s)
WORKMEN
COMP.
PERSONAL
ACCIDENT
{d_mZZ
BOr{Z`[aJ
AVIATION
ENGINEERING
g.
A` {d{dY
Xo`mm`|
OTHER MISC. LIABILITIES
dm` d
AnVmbrH$aU
Hw$b
HEALTH &
HOSPITALISATION
TOTAL
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
No.
AMT.
No.
AMT.
No. AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
100 125386
773
322085
2 28158
569 1111652 1378
339170
27
38366
8734 1559721
24094
9547779
am{e
75
11423
615
45999
4000
349
157977 1119
138597
26
4065
2462
161429
16345
2328101
99
14229
575
46119
50
386
500468 1183
222430
46
14206
1754
436162
16495
3383714
230
28826
648
61784
3600
621
744547 1405
349818
73
31555
2342
184914
29484
6445483
369
49589 1343
70857
2002
512
713319 1746
626704 168 111266
2062
96986
150
18653
109
86285
121
75160 1105
185068 132
13765
279
7971
203
20875
117
102297
56
53829 1783
348583 146
41146
55
24849
1226 268981 4180
735425
7 37810
69041 14341300
41136
6177084
77467 11097061
2614 3356952 9719 2210370 618 254369 17688 2472032 274062 53320523
AGEING OF CLAIMS AS AT 31-03-2011
H$_H$ma {VH$ma `pVJV XwKQ>Zm
129

_moQ>a VVr` nj
ApZ
FIRE
`j H$mamo~ma
g_wr Zm^ma
g_wr nmoV
MARINE
CARGO
MARINE
HULL
_moQ>a {ZOr j{V

MOTOR
OWN
DAMAGE
Direct Business
I)
MOTOR THIRD PARTY
_mo Xw X A
_| b{~V (A)
Pending in
MACT (a)
A` (Am)
nyb (B)
Others (b)
Pool (c)
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
1785 2134124
362
110765 2097 359482
437876 290 100118 17 22590 5774 300168
2075
260588
322
46183 2497 383908
425 1221019 448 162220 29 42435 4708 297353
3206
249428
533
67415 4077 704202
499 1284942 678 1145210 28 1096389
8237 1068841 1367
171525 8175 1354688
30 {XZ `m Cggo H$_

Ad{Y Ho$ {bò eof
O/s for 30 days
or less
379 1089274 559 495220 24 129888
7545 538888
II) 3 _hrZo `m Cggo H$_
Ad{Y Ho$ {bò eof

O/s for 3 months
or less
281

naVw 3 _hrZo go

O/s for 6 months or
less but more than
3 months
Ad{Y Ho$ {bò eof

but more than
6 months.
4609 319118
V) 3 gmb `m Cggo H$_
naVw 1 gmb go A{YH$

Ad{Y Ho$ {bò eof
590 1224225 896 308607 34 444803 2431 205280 37310 4903387 6596 843272 11853 2090087
naVw 3 gmb go A{YH$

Ad{Y Ho$ {bò eof
but more than 3 years 118
453314 114 53908 24 242789
275
27014 33003 4098064 5746 655537
O/s for more than

5 years
221 1212798 152 534863 50 90244
332
29617 63440 7176704 6609 745290
Hw$b/ Total
2513 6923448 3137 2800146 206 2069138 25674 1717437 149056 19891136 21535 2639987 28699 4892367
VII)5 gmb go A{YH$ Ad{Y
Ho$ {bò eof
130
(A in '000s)
WORKMEN
COMP.
PERSONAL
ACCIDENT
g.
am{e
g.
am{e
No.
AMT.
No.
AMT.
{d_mZZ
BOr{Z`[aJ
AVIATION
ENGINEERING
g.
A` {d{dY
Xo`mm`|
dm` d
AnVmbrH$aU
Hw$b
HEALTH &
HOSPITALISATION
TOTAL
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
1 105518
556
534613
1163
209704
34
22167
7341 1702885
22683
7823893
am{e
No. AMT.
95
84148 742
307217
134
23487 572
44171
1061
409
516787
1044
288792
34
5461
2440
110973
15890
2542163
118
14238 521
41432
1913
422
326285
1135
252542
37
7635
1254
92550
16914
3480667
163
17371 802
51209
459
269385
1292
437023
83 170904
1379
59676
27771
7446281
377
54311 771
60358
2754
566
388629
1692
423586 225
26933
1453
84529
64798 11060761
168
21965 105
248556
98
47608
1517
218749 104
14109
153
5728
194
17699 115
130685
66
525559
1553
262773 155
37443
62
10941
1249 233219 3628
883628
7 111246 2576 2608866
41425
6087341
72949 10774616
9396 2093169 672 284652 14082 2067282 262430 49215721
131

_moQ>a VVr` nj
ApZ
FIRE
`j H$mamo~ma
g_wr Zm^ma
g_wr nmoV
MARINE
CARGO
MARINE
HULL
Direct Business
I)
_moQ>a {ZOr j{V

MOTOR
OWN
DAMAGE
_mo Xw X A
_| b{~V (A)
Pending in
MACT (a)
A` (Am)
nyb (B)
Others (b)
Pool (c)
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
65912 1748 345695
30 {XZ `m Cggo H$_

Ad{Y Ho$ {bò eof
O/s for 30 days
or less
II)
MOTOR THIRD PARTY
371
759044 508 271741 35
42358 10589 574700
2455 2589273
539
302
373849 451 157521 23
13134 6591 344291
2408
347815
504 182454 2284 446332
389 1103557 609 116301 20
11723 4173 257495
3727
498306
629
606 1104444 1038 307118 22
368780 4090 289619
453 1689851 677 339024 29
376587 2113 168199 41494 5802675 7484 1019611 3250 639900
3 _hrZo `m Cggo H$_

Ad{Y Ho$ {bò eof
O/s for 3 months
or less

naVw 3 _hrZo go

O/s for 6 months or
less but more than
3 months
84943 3098 579789

Ad{Y Ho$ {bò eof

but more than
6 months.
V)
9714 1371898 2037 272773 5171 992084
3 gmb `m Cggo H$_

naVw 1 gmb go A{YH$
Ad{Y Ho$ {bò eof
naVw 3 gmb go A{YH$

Ad{Y Ho$ {bò eof
109
141563
78
43346 27 1742236
331
35477 32895 4234362 6887 736495
456
36138 68706 8202401 5034 706341
VII) 5 gmb go A{YH$ Ad{Y
Ho$ {bò eof
132
O/s for more than

5 years
276 1351592 142 558175 47
Hw$b / Total
2506
88167
6523900 3503 1793226 203 2642985 28343 1705919 161399 23046730 23114 3068529 15551 3003800
(A in '000s)
WORKMEN
COMP.
PERSONAL
ACCIDENT
{d_mZZ
BOr{Z`[aJ
AVIATION
ENGINEERING
g.
am{e
g.
am{e
No.
AMT.
No.
AMT.
g.
122
72601
1067
545979
127
11147
1095
72766
134
15149
1062
198
27706
336
A` {d{dY
Xo`mm`|
dm` d
AnVmbrH$aU
Hw$b
HEALTH &
HOSPITALISATION
TOTAL
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
143838
711
508267
1916
211970
63
410745
8426
1733743
28551
8275866
2707
588
191730
1898
190501
51
5941
3050
263452
19374
2603640
72360
562
153878
1519
279347
68
15979
1515
62413
17505
3251240
959
69946
1450
706
352615
1874
240952
113
18611
1950
325547
28479
5743543
40937
549
270665
255
686
391914
2622
426500
259
28162
1583
76941
61536
11271221
169
23159
140
232980
75
8987
1302
181959
74
16101
113
4208
42200
7400873
210
18632
119
133734
53958
87
544252
1409
262599
142
44836
90
3452
76722
12004277
1296
209331
4991
1398430
202208
3415
2151643
12540
1793828
770
540375
16727
2469756
274367
50550660
am{e
No. AMT.
133

_moQ>a VVr` nj
ApZ
FIRE
`j H$mamo~ma
g_wr Zm^ma
g_wr nmoV
MARINE
CARGO
MARINE
HULL
Direct Business
I)
MOTOR THIRD PARTY
_moQ>a {ZOr j{V

MOTOR
OWN
DAMAGE
_mo Xw X A
_| b{~V (A)
Pending in
MACT (a)
A` (Am)
nyb (B)
Others (b)
Pool (c)
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
743 1173580 2535
520393
37
8398
3582469
1793
241529
425
509763 1187
238098
27
446919
3947 204859
7021
876917 1482 185056 1037 176809
528 1618001 606
209811
19
8925
3705 217470
14756 1779942 3621 391623
406 1557288 427
229613
58
792596
2018 162590
49488
6865902 9870 1076399
98
44699
33
30847
464
40076
41285
5886604 6535 718359
245 1212313 220
493161
66
102536
388
31667
80044 10270159
736716
2467 6261645 5073 1735775 240 1434822 26569 1396495 200992 29261993 29010 3349682
3795
693559
3 _hrZo`m Cggo H$_

Ad{YHo$ {bòeof
O/s for 3 months
or less
52999 16047 739833
1830 383070
II) 6 _hrZo`m Cggo H$_

naVw 3 _hrZogo
A{YH$Ad{YHo$ {bò eof

O/s for 6 months or
less but more than
3 months
III) 1 gmb `m CggoH$_
naVw 6 _hrZogoA{YH$
Ad{YHo$ {bòeof
but more than
6 months.
928 133680
IV) 3 gmb`m CggoH$_

naVw 1 gmbgoA{YH$
Ad{YHo$ {bòeof
V) 5 gmb`m CggoH$_
naVw 3 gmbgoA{YH$
Ad{YHo$ {bòeof
but more than 3 years 120
190700
VI) 5 gmbgoA{YH$Ad{Y
Ho$ {bòeof
O/s for more than
5 years
Hw$b/ Total
134
5709
(A in '000s)
WORKMEN
COMP.
PERSONAL
ACCIDENT
g.
am{e
g.
am{e
No.
AMT.
No.
AMT.
242 126127 3979
100
8452 1616
912124
{d_mZZ
BOr{Z`[aJ
AVIATION
ENGINEERING
g.
am{e
No. AMT.
A` {d{dY
Xo`mm`|
dm` d
AnVmbrH$aU
Hw$b
HEALTH &
HOSPITALISATION
TOTAL
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
1 202658 1413
464599 10332
638095 487
33814 12882 1984160
60719 11055450
52490
482
88509
4489
287862 262
21548
3366
194319
25441 3291601
147
16367
865
57888
557
306213
3351
200120 227
17747
3061
79772
32371 5037559
343
47934
804
252451
368
365289
3535
342972 313
17801
1470
35010
69100 11745845
149
18325
522
144569
880
93
34993
1013
262137 458
10815
414
27542
51185 7410546
204
13830
729
49780
43015
70
527375
1631
226075 455
26197
385
26740
90150 13759564
1185 231035 8515 1469302
6 246553 2983 1786978 24351 1957261 2202 127922 21578 2347543 328966 52300565
135

_moQ>a VVr` nj
ApZ
FIRE
`j H$mamo~ma
Direct Business
I)
g_wr nmoV
MARINE
CARGO
MARINE
HULL
_moQ>a {ZOr j{V

MOTOR
OWN
DAMAGE
_mo Xw X A
_| b{~V (A)
Pending in
MACT (a)
A` (Am)
Others (b)
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
772
737962 1017
383955
36 -179220 22278
689641
9155
4681084
1011
152372
510
957968
621
202215
16
1491
6794
255057
8414
1075275
813
98994
906 1221881
988
199860
44 450448
8171
349038
17337
2344313
1777
199448
948 1084695 1447
299992
80 122643
8287
353361
61723
7769139
5649
887856
236
3 _hrZo `m Cggo H$_

Ad{Y Ho$ {bò eof
O/s for 3 months
or less
II)
g_wr Zm^ma
MOTOR THIRD PARTY
6 _hrZo `m Cggo H$_

naVw 3 _hrZo go
O/s for 6 months or
less but more than
3 months
III) 1 gmb
`m Cggo H$_
Ad{Y Ho$ {bò eof

but more than
6 months.
naVw 1 gmb go A{YH$
Ad{Y Ho$ {bò eof

V)
5 gmb `m Cggo H$_

naVw 3 gmb go A{YH$
Ad{Y Ho$ {bò eof
353794
316
100307
31
62009
1274
65296
52769
5685302
1601
220637
281 1105361
420
594494
65
85104
884
42983
83843
8749586
3557
519446
VI) 5 gmb go A{YH$ Ad{Y
Ho$ {bò eof

O/s for more than
5 years
Hw$b / Total
136
3653 5461661 4809 1780823 272 542475 47688 1755376 233241 30304699 14408 2078753
(A in '000s)
`pVJV XwKQ>Zm
WORKMEN
COMP.
PERSONAL
ACCIDENT
{d_mZZ
BOr{Z`[aJ
A` {d{dY
Xo`mm`|
AVIATION
ENGINEERING
OTHER MISC.
LIABILITIES
dm` d
AnVmbrH$aU
Hw$b
HEALTH &
HOSPITALISATION
TOTAL
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
g.
am{e
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
No.
AMT.
79 118749 1514 305985
7294
486506
647 54035 12211 1911479 61624
9954082
534 17945 5076
340 13758
593589
865
91607
28
152
673 132824
3472
284145
361 18155 2810
66573 25717
3198214
620 35619 1176
227026
37
553
740 245852
3615
361333
400 21152 3249
98287 39060
5754810
1728 45610 1106
281052
32
442
979 292440
4968
584787
502
84100 90532 11808716
163
68058
1345
173023
169 14375
661
14680 59511
89 761807
1192
246702
164 33893
204
20314 92024 12291056
558 21297
381
124290
184
1141 17603
167
39234
17
74529
4921 151832 8771 1356798
2599 3083
6903252
200 194609 4158 1806966 21886 2136496 2243 144209 22218 2195433 368468 49910130
H$_H$ma {VH$ma
137

nOrH aU g`m : 545 ~r {d {d Ho$ gmW ZdrH aU H r$ VmarI : 10 _mM 2010
31 _mM 2011 H$mo nm{bgrYmaH$m| mam Ja Xmdm am{e H$m dfdma {dbofU H$m {ddaU
AZwgyMr -13 H$m AZwbZH$
(A in '000s)
dfdma {dbofU
{ddaU
Hw$b
am{e
1-6
7-12
13-18
19 24
_hrZo
_hrZo
_hrZo
_hrZo
{H$gr H$maUde nm{bgrYmaH$m| / ~r_mYmaH$m|

H$mo {Zn{Q>V Xmdo H$s am{e AXm Zht H$s
J`r, ~r_mYmaH$m|/nm{bgrYmaH$m| mam
XOdmX Ho$ VhV H$mo N>moS>H$a
nm{bgrYmaH$m| / ~r_mYmaH$m| mam Omar MoH$ 634645

H$mo O_m Zht {H$`m J`m
138
36 _hrZo
_hrZo
_hrZo
go A{YH$
{ddaU CnbY Zht h
n[andVm `m A`V na ~r_mYmaH$m| /

nm{bgrYmaH$m| H$mo Xo` am{e
nm{bgr eVm] Ho$ AZwgma `m m{YH$aU Ho$
{ZX}emZwgma nm{bgrYmaH$m| H$mo Am{Y`
205212
dgyb r{_`_/H$a `m A` ^ma Omo Xo` h
H$mo dmng Zht H$s J`r
25 30 31 36
bmJy Zhr
62234
17838
21483
19944
20378
26709
36626
NA
126399
229717
117269
112101
5110
44049

Registration No. : 545 Date of Renewal with IRDA : 10th March 2010
STATEMENT SHOWING THE AGE-WISE ANALYSIS OF THE
UNCLAIMED AMOUNT OF THE POLICYHOLDERS AS ON 31ST MARCH 2011
Annexure to Schedule 13
(A in '000s)
Particulars
AGE-WISE ANALYSIS
Total
1-6
7-12
13-18 19 24 25 30 31 36 Beyond
Amount months months months months months months 36 Months
Claims settled but not paid to the

policyholders / insureds due to any
reasons except under litigation
from the insured / policyholders
Not Available
Sum due to the insured / policyholders on maturity or otherwise
Not Applicable
Any excess collection of the premium /

tax or any other charges which is
refundable to the policyholders
205212
either as terms of conditions
of the policy or as per law or
as may be directed by the
Authority but not refunded so far
Cheques issued but not encashed
by the policyholder/ insured
634645
62234
17838
21483
19944
20378
26709
36626
NA
126399
229717
117269
112101
5110
44049
139
VwbZ n H$m gmame Ama H$nZr Ho$ gm_m` H$mamo~ma H$s $naoIm
BALANCE SHEET ABSTRACT AND A COMPANY'S GENERAL BUSINESS PROFILE
I. nOrH$aU {ddaU / Registration Details :
nOrH$aU g`m
am` H$moS>
1 0 8
Registration No.
VwbZ n
Balance Sheet
{XZmH$ / Date _hrZo / Month
1 8
State Code
(H$moS> gyMr gX^ b|) / (Refer Code List)
2
0 1
df / Year
II. df Ho$ XmamZ MwH$m`m nyOr (nò hOmam| _|) / Capital Raised During the Year (Rs. in Thousands)
gmdO{ZH$ {ZJ_Z / Public Issue

ey `
N I L
hH$ {ZJ_Z / Rights Issue

ey `
N I L
~moZg {ZJ_Z / Bonus Issue

ey `
N I L
d`pVH$ {d{ZdoeZ / Private Placement

ey `
N I L
III. {Z{Y Ho$ gJh Ama A{^`moOZ H$s pW{V (nò hOmam| _|)
Position of Mobilisation and Deployment of Funds (Rs. in Thousands)
Hw$b Xo`VmE / Total Liabilities

1 8 6
Hw b n[agn{V`m / Total Assets

2
{Z{Y`m| H$m moV / Source of Funds

MwH Vm nyOr / Paid-up Capital
1 5
1 2 9 6
ew Mmby n[agn{V`m / Net Current Assets

2 9
1 0
g{MV hm{Z / Accumulated Losses

ey `
N I L
140
1 4
1 8
Ag_mV Omo{I_ Ama{jV Ama mdYmZ / Unexpired Risk Reserves and Provisions
{Z{Y`m| H$m `moJ / Application of Funds

ew WmB n[agn{V`m / Net Fixed Assets
8 6
Ama{j{V`m Ama A{Yeof / Reserves & Surplus
Mmby Xo`Vm`| / Current Liabilities

6
1 8 6
2 9
3 6
3 6
1 6
{Zdoe / Investments
1 5
2 6
G U / Loans
4
c{~V `` / Deferred Expenditure

ey `
N I L
H$nZr H$m {ZnmXZ (nò hOmam| _|) / Performance of Company (A in Thousands)

Hw$b `` / Total Expenditure
Hw$b {~H s / Turnover - Premium Income

4 6
7 6
+ - H$a Ho$ nyd bm^ / hm{Z / Investment & Other Income

1 8
3 8
0 8
+ - H$a Ho$ nMmV bm^ / hm{Z / Profit / Loss After Tax

+
3 9
0 5
+ - H$a Ho$ nyd bm^ / hm{Z / Profit/ Loss Before Tax

+
2 9 6
(+ bm^ hoVw - hm{Z hoVw) / (+ for Profit - for Loss)

bm^me / Dividend at %
{V eoà go Am` . _| / Earning per Share in Rs.

8
V. VrZ _wI CnmX H$nZr H$s godmAm| H$m gm_m` Zm_ ({dVr` eVm] Ho$ AZwgma)
Generic Names of Three Principal Products/Services of Company (as per monetary terms)
_X H$moS> g .(AmBQ>rgr H$moS>)

Item Code No.(ITC Code)
bm Jy
CnmX {ddaU
gm Ym a U
Product Description
N A
Z ht
~r _m
G E N E R A L
B U S I
bm Jy
Z ht
CnmX {ddaU
bm Jy
Z ht
_X H$moS> g.(AmBQ>rgr H$moS>)

bm Jy
Z ht
CnmX {ddaU
bm Jy
Z ht
Product Description
N S U R A N C E
N E S S
Product Description
H m amo ~m a
N A
N A
N A
N A
ZmoQ> : ^maVr` `mnma dJuH$aU Ho$ CnmX H$moS> Ho$ {bE, ^maVr` `mnma dJuH$aU H$meZ H$m gX^ b|, Omo dm{U` _mc`, dm{U` JwMa
Ama gm`H$s _hm {ZXoemb`, H$mobH$mVm - 700 001 Ho$ gw`d{WV CnmX {ddaU Ama H$moqS>J Umbr na AmYm{aV h &
Note : For ITC Code of Products please refer to the publication Indian Trade Classification based on harmonised
commodity description and coding system by Ministry of Commerce, Directorate General of Commercial
Intelligence & Statistics, Kolkata -700 001.
IV.
141
H$nZr A{Y{Z`_ 1956 H$s Ymam 212 Ho$ AVJV {Z`{V H$nZr _| ^m{JVm H$m {ddaU
A) 31 _mM, 2011 H$mo g_m df Ho$ {bò {Z`{V H$nZr Ho$ {hgo H$r gr_m Oo{ZW go`y[a{Q>O ES> BdoQ>_oQ>g {b{_Q>oS> Ho$
20,000 eoà A 100/- òH$ Ho$ nyU go XV eoàm| _| H$nZr 13,890 eoà (69.45%) aIVr h &
Am) {Z`{V H$nZr H$s ew Hw$b am{e `{X bm^ h Vmo hm{Z`m| H$mo KQ>mH$a `m {dbmo_V Ohm VH$ CgH$m g~Y H$nZr Ho$ gX`m| go h Ama
H$nZr Ho$ ImVo _| Zht {b`m J`m h :
i) 31 _mM, 2011 H$mo g_m df Ho$ {bò
bm^ A 35,30,143/ii) O~ go {Z`{V H$nZr ~Zr h V~ go {Z`{V H$nZr H$o JV dfm] Ho$ {bò
bm^ A 4,42,19,008/B)
{Z`{V H$nZr H$s ew Hw$b am{e `{X bm^ hmo Vmo hm{Z`m| H$mo KQ>mH$a `m {dbmo_V Ohm VH$ do H$nZr Ho$ ImVo _| {bò Jò h :
i) {Z`{V H$nZr _| 31 _mM 2011 H$mo g_m df Ho$ {bE :
my`
ii) O~ go {Z`{V H$nZr ~Zr h V~ go {Z`{V H$nZr H$o JV dfm] Ho$ {bò :
my`
{Z`{V H$nZr Ho$ {ZXoeH$m| Zo CZHo$ gm`me eoàm| na 31 _mM 2011 H$mo g_m df Ho$ {bò 50% bmmme H$s {g\$m[ae H$s h Omo {H$ {Z`{V H$nZr
mam AnZr gm_m` ~R>H$ _| Kmo{mV hmoVm hmo, {Z`{V H$nZr _| H$nZr Ho$ dd Ho$ AZwnmVmZwgma 31 _mM 2012 H$mo g_m hmoZodmbo ImVo _| O_m
{H$`m OmòJm &
VU ~OmO
Qr.E_. ^m{gZ
{_{bX E IamV
dr.hfdYZ
Mo
28 Ab, 2011
142
Or. lr{ZdmgZ
A`j-gh-~Y {ZXoeH
STATEMENT OF INTEREST IN THE SUBSIDIARY COMPANY

UNDER SECTION 212 OF THE COMPANIES ACT, 1956
a) The extent of the Company's interest in the subsidiary for the year ended 31st March 2011. Out of
20,000 shares of Zenith Securities & Investments Limited of A 100/- each fully paid, the Company holds
13,890 shares (69.45%).
i)
ii)
c)
For the year ended 31st March, 2011 :

Profit A 35,30,143/For the previous financial years of the Subsidiary since it became the Company's Subsidiary :
Profit A 4,42,19,008/-
The net aggregate amount of the Subsidiary's Profit after deducting its losses or vice versa so far as these are
dealt with in the Company's Accounts:
i) For the year ended 31st March 2011 on the Subsidiary
NIL
ii) For the previous financial years of the Subsidiary since it became Subsidiary
NIL
The Directors of the Subsidiary Company have recommended a Dividend of 50% on the Equity Shares for the year
ended 31st March 2011 which as and when declared by the Subsidiary Company in its General Meeting will be
credited in the Accounts for the year ended 31st March 2012 in proportion to the Company's interest in the
Subsidiary.
Tarun Bajaj
T.M. Bhasin
Milind A Kharat
V.Harshavardhan
Chennai
28th April 2011
G. SRINIVASAN
STATEMENT OF INTEREST IN THE SUBSIDIARY COMPANY
b) The net aggregate amount of Subsidiary's Profit after deducting its losses or vice versa so far as it concerns
members of the Company and is not dealt with in the Company's Accounts :
143
144
Oo{ZW go`y[aQ>rO ES> BdoQ>_oQ>g {b{_Q>oS>

ZENITH SECURITIES AND INVESTMENTS LIMITED
145
gX`m| Ho$ {V 31 _mM 2011 H$mo g_m df Ho$ {bE {ZXoeH$m| H$m {VdoXZ
31 _mM, 2011 H$mo g_m df Ho$ {bE H$nZr Ho$ H$m` MmbZ H$m dm{fH$ {VdoXZ VwV H$aZo _| {ZXoeH$JU gVm `V H$aVo h
&
H$nZr Zo {Zdoe H$mamo~ma Omar aIm h & Bg df MwH$Vm nyOr A 20 bmI _| H$nZr Ho$ Hw$b {Zdoe A 486.89 bmI h (JV df A 489.97 bmI )
~mOma _y` A 4128 bmI h - (JV df A 3608.28 bmI)&$
A{V_ n[aUm_
Bg {dr ` df H$nZr H m$ H$m` MmbZ gVmofOZH$ Wm Ama A 50.83 bmI H$m bm^ hm{gb H$aZo H$s Ame h &
bm^me :
[ZXoeH$m| Zo ghf òH$ eoà na A 50/- (50%) (JV df òH$ eoà na A 50/- `m{Z 50%) Omo A 10 bmI h, Ho$ ^wJVmZ H$r gVw{V H$s &
bm^me {dVaU H$a 16.608%, Omo A 1.66 bmI h & AV: Hw$b `` A 11.66 bmI h &
{ZXomH$m| Ho$ CVaXm{`d {ddaU
i) {dVr` df Ho$ dm{fH$ boIm V`ma H$aZo _| bmJy boIm _mZH$m| H$m AZwnmbZ {H$`m J`m h &
ii) h_Zo {dVr` df 2010-2011 Ho$ AV _| H$nZr Ho$ _m_bm| Ho$ dmV{dH$ Ama C{MV {ddaU VwV H$aZo Ho$ {bE Ama g_rjmYrZ df Ho$ {bE
H$nZr Ho$ bm^ H$s ghr Ama nQ> H$amZo Ho$ {bE Eogr boIm Zr{V`m| H$m M`Z {H$`m Ama bmJy {H$`m Ama {bò Jò {ZU` Ama AZw_mZ, `wpV`wV
Ed XyaJm_r h ;
iii) h_Zo H$nZr H$s n[agnpV H$s gwajm Ama H$nQ> VWm A` A{Z`{_VVmE amoH$Zo Ed nVm H$aZo Ho$ {bò A{Y{Z`_ Ho$ mdYmZm| Ho$ AZwgma n`m
boIm {ddaU Ho$ aIaImd Ho$ {bò C{MV Ama n`m `mZ aIm h &
iv) h_Zo dV_mZ n^mdr AmYma na dm{fH$ boIm V`ma {H$`m h &
{ZXoeH$ _S>b
MH$mZwH$_ `moOZm Ho$ AVJV lr. S>r.EZ.ewbm, {ZXoeH$, {ZXoeH$ _S>b go godm {ZdpV hmoZo na Chm|Zo d` Ho$ nwZM`Z Ho$ {bE noe h &
AZwN>oX m| gemoYZ
`h Vm{dV [H$`m J`m h {H$ AZwN>oX 149 H$mo gemo{YV {H$`m OmE {OgHo$ _wVm{~H$ `h Amd`H$ Zht h {H$ {ZXoeH$ `mo`Vm eoàm| H$mo AnZo
{ZÙ _| aI| & `h gemoYZ dV_mZ {ZJ_r` H$mÙmbr Ho$ AZw$n _| hmo &
Ymam 217 (2 E) Ho$ AVJV H$Q>Z
{VdoXZ H$s Ad{Y Ho$ XmamZ {H$gr ^r H$_Mmar H$mo A 60,00,000/- {V df go `mXm `m A 5,00,000/- {V _hrZo go `mXm H$m doVZ ^wJVmZ
Zht {H$`m J`m h &
H$nZr {H$gr H$ma Ho$ CnmXZ J{V{d{Y`m| _| g{H$` OwS>o Zht h & AV D$Om ~MV `m mmo{JH$s g_mdoeZ hoVw H$moB {ddaU AbJ Zht Xem`m J`m h &
{dXomr {d{Z`_ go Eogr H$moB ^r Am` `m ^wJVmZ Zht h {Ogo H$nZr ({ZXoeH$ _S>b H$o {VdoXZ _| XemE Jò {ddaU) {Z`_ 1988 Ho$ AVJV
XemZodmbo {ddaU _| H${Q>V {H$`m OmE &
146
DIRECTORS' REPORT TO THE MEMBERS FOR THE YEAR ENDED 31st MARCH, 2011
The Directors have pleasure in presenting the Annual Report on the working of the Company for the year ended
31st March, 2011.
The Company continues to carry on investment activities. The Total Investments of the Company stood at A 486.89
Lakhs (A 489.97 Lakhs for Previous Year). Market Value A 4128 Lakhs - (Previous Year A 3608.28 Lakhs),
as against its Paid-Up Capital of A 20 Lakhs.
FINAL RESULTS :
Working of the Company for the current year was satisfactory which projected a Profit of A 50.83 Lakhs.
DIVIDEND :
The Directors are pleased to recommend the payment of Dividend at the rate of A 50/- per Share i.e. 50%
(Previous Year A 50/- per share i.e. 50%) amounting to A 10.00 Lakhs on which Corporate Tax on distribution of
Dividend @16.608% comes to A 1.66Lakhs. Thus total outgo will be A 11.66 Lakhs.
DIRECTORS' RESPONSIBILITY STATEMENT :
i)
In the preparation of Annual Accounts, the applicable accounting standards have been followed.
ii) We have selected such accounting policies and applied them consistently and made judgments and estimates
that are reasonable and prudent so as to give a fair view of the state of affairs of the Company at the end of the
financial year 2010-2011 and of the Profit of the Company for that period.
iii) We have taken proper and sufficient care for the maintenance of adequate accounting records in accordance
with the provisions of this Act for safeguarding the assets of the Company and for preventing and detecting
fraud and other irregularities.
iv) We have prepared the Annual Accounts on a going concern basis.
BOARD OF DIRECTORS :
AMENDMENT OF ARTICLES
It is proposed to amend the Article No. 149 which is intended to provide that it shall not be necessary for a Director
to hold the qualification shares, so as to fall in line with the present Corporate practice.
DISCLOSURE UNDER SECTION 217(2A) :
There were no employees, who have been in receipt of remuneration of not less than A 60,00,000/- per annum or
not less than A 5,00,000/- per month during the period under report.
The Company is not engaged in any manufacturing activity and therefore, no particulars are separately disclosed
regarding energy conservation or technology absorption. There are no payments or receipts in foreign currency
which are required to be disclosed under the Companies (Disclosure of Particulars in the Report of the Board of
Directors) Rules, 1988.
DIRECTORS' REPORT
Mr. D.N. Shukhla, a Director retires from the Board under the Scheme of Rotation and being eligible to offer himself
for re-election.
147
boIm narjH$
H$nZr A{Y{Z`_ 1956 H$s Ymam 619 Ho$ AZwgma g_rjmYrZ Ad{Y Ho$ {bE H|$r` gaH$ma mam _ogg H$mZu{b`g ES> Xmda, gZXr boImH$ma,
_w~B, H$mo boIm narjH$ Ho$ $n _| {Z`wV {H$`m J`m h &
AJbo {dVr` df Ho$ {bò Ho$r` gaH$ma mam H$nZr Ho$ boIm narjH$ H$s {Z`wpV H$s OmZr h &
A{^drH${V :
{ZXoeH$JU YmZ H$nZr, `wZmBQ>oS> B{S>`m B`ya|g H$nZr {b{_Q>oS> VWm {ZXoeH$m| Ed A{YH$m[a`m| Omo nyd _| H$nZr go OwS>o hE Wo, CZgo m g{H$`
gh`moJ VWm _mJXeZ Ho$ {bE Y`dmX H$aVo h {OgHo$ {~Zm H$nZr Bg pW{V VH$ Zht nhwM nmVr &
{ZXoeH$ _S>b Ho$ AmXoe na

nOrH$V H$m`mb`
_ohVm hmD g,
79/91, _w~B g_mMma _mJ,
_w~B -400 001.
{XZmH$13 _B 2011
148
Eb. nr. _ohVm

{ZXoeH$
~r.E_.R>H$a
{ZXoeH$
AUDITORS :
M/s Cornelius & Davar, Chartered Accountants, Mumbai, have been appointed by the Comptroller and Auditor
General of India, as Auditors of the Company, for the period under review, under Section 619 of the
Companies Act, 1956.
For the next financial year, Central Government of India has yet to appoint Auditors of the Company.
ACKNOWLEDGEMENTS :
The Directors wish to place on record their appreciation for the active support and guidance received from the parent
company, United India Insurance Co. Ltd., and Directors and Officers who have been associated with the Company
in the past, without which the Company could not have grown to its present strong position.
By Order of the Board
Registered Office :
Mehta House,
79/91, Mumbai Samachar Marg,
Mumbai - 400 001.
L.P. Mehta
Director
B.M. Thakkar
Director
DIRECTORS' REPORT
Dated : 13th May 2011
149
H$mZu{b`g ES> Xmda (nOrH V)

gZXr boImH$ma
_wbm hmD g, 51, _hm_m JmYr amoS>

_w~B - 400 023
Xa^mf 91-22-2204 7452 \$g : 91-22-2204 9994
B-_b rddavar@gmail.com
Oo{ZW go`y[aQ>rO ES> BdoQ>_oQ>g {b{_Q>oS> H$nZr Ho$ gX`m| H$mo boImnarjH$m| H$m {VdoXZ
1.
h_Zo Oo{ZW go`y[aQ>rO ES> BdoQ>_oQ>g {b{_Q>oS> H$nZr Ho$ 31 _mM 2011 Ho$ gbZ VwbZ n Ama Cgr VmarI H$mo g_m df Ho$ {bE
H$nZr Ho$ bm^ Ama hm{Z ImVo Ama H$e \$bmo {ddam H$s boIm narjm H$s h & {dVr` {ddaU H$nZr ~YZ H$m Xm{`d h & h_mar boIm narjm Ho$
AmYma na BZ {dVr` {ddaU na AnZr am` `V H$aZm h_mam H$V` h &
2.
^maV _| drH$V boIm _mZH$m| Ho$ AmYma na hr boIm narjm H$s JB h & BZ _mZXS> Ho$ AZwgma Ano{jV h {H$ h_ boIm narjm mam `h
gw{ZpMV H$a| {H$ {dVr` {ddaU _| H$moB dVwJV JbV H$Q>Z Z hmo & boIm narjm _| am{e`m| VWm H$Q>rH$aU Ho$ g_WZ _| CnbY _mU H$mo
narjU AmYma na OmM H$aZm ^r gp_{bV h & boIm narjm _| ~YZ mam `wV boIm Vdm|, {d{eQ> _y`mH$Z, nyao {dVr` {ddaU Vw{V
H$m _y`mH$Z Am{X H$s OmM gp_{bV h & h_| {ddmg h {H$ h_mar boIm narjm h_mao _V H$m C{MV AmYma gm{~V H$aVr h &
3.
Ogm {H$ Ho$Xr` gaH$ma mam Omar H$r JB H$nZr (boIm narjm {VdoXZ) AmXoe, 2003, H$nZr (boIm narjm {VdoXZ) (gmmoYZ)
AmXoe, 2004 _| Ano{jV h, Ama h_| {Xò Jò nQ>rH$am Vmm gm_m` boIm narmm Ho$ XmamZ OmM H$s J`r ~{h`m Ed A{^boI Ho$ AmYma na
h_mao gdmoV_ OmZH$mar Ama {dedmg Ho$ AZwgma CV AmXoe Ho$ nam 4 Ama 5 _| {Z{XQ> _m_bm| na EH$ {ddaU gbZ H$a aho h &
4.
CnamoV Cpb{IV AZw~Y _| Xr JB h_mar {Q>n{U`m| Ho$ Abmdm h_ {VdoXZ H$aVo h {H$,
(A) h_Zo g^r OmZH$mar Ama nQ>rH$aU m {H$ò Omo h_mar gdm}V_ OmZH$mar Ama {ddmg Ho$ AZwgma h_mar boIm narjm Ho$
`moOZ hoVw Amd`H$ Wo &
(Am) h_mar am` _| H$nZr mam aIr J`r boImAm| H$s OmM H$aZo go VrV hmoVm h {H$ dYm{ZH$ $n go Ano{jV boIm ~{h`m h &
(B) h_mao {VdoXZ _| em{_b {H$ò Jò H$nZr Ho$ VwbZ n bm^ Ama hm{Z ImVo Ama H$e \$bmo {ddam H$m {_bZ ImVm ~{h`m| Ho$ AZwgma
hr h &
(B) Bg [anmoQ> _| {Xò Jò VwbZ n bm^ Ama hm{Z ImVo Ama H$e \$bmo {ddam H$nZr A{Y{Z`_ 1956 H$s Ymam 211 H$s CnYmam (3 gr)
_| gX{^V boIm _mZH$m| H$s Amd`H$Vm Ho$ AZwgma {Xò Jò h &
(C) 31 _mM 2011 H$mo {ZXoeH$JU go m {b{IV {VdoXZ Ama {ZXoeH$ _S>b mam A{^{b{IV AmYma na h_ {VdoXZ H$aVo h {H$
H$nZr A{Y{Z`_ 1956 H$s Ymam 274 H$s Ymam (Or) H$s CnYmam (1) Ho$ AVJV 31 _mM 2011 H$mo H$moB ^r {ZXoeH$,
{ZXoeH$ Ho$ $n _| {Z`wpV Ho$ {bE {Z{hV Zht h &
(D) h_mao {dMma _| VWm h_mar gdm}V_ OmZH$mar VWm h_| {XE JE nQ>rH$aU Ho$ AZwgma _hdnyU boIm Zr{V`m| Ed Vg~Yr {Q>nUr
Ho$ gmW n{R>V boIm| _| Ano{jV VarHo$ go H$nZr A{Y{Z`_ 1956 Ho$ VhV `Wm dm{N>V OmZH$mar Xr JB h Omo ^maV _| gm_m`V
drH$V boIm Zr{V`m| Ho$ g_WZ _| Ama C{MV pQ>H$moU XmZ H$aVo h :
(i) VwbZ n Ho$ g~Y _| 31 _mM 2011 H$mo H$nZr H$s H$m` pW{V ;
(ii) H$nZr H$s bm^ Ama hm{Z ImVo Ho$ g~Y _|, Cgr VmarI H$mo g_m hE df Ho$ {bE bm^ H$m; Ama
(iii) H$e \$bmo {ddaU Ho$ g~Y _|, Cgr VmarI H$mo g_m hE df Ho$ {bE H$e \$bmo &
WmZ _w~B
{XZmH$25 Ab 2011
150
H$Vo $H$mZu{b`g ES> Xmda

gZXr boImH$ma
grE. aVmo_ S>r Xmda
dm_r
gX`Vm g. F10620
CORNELIUS & DAVAR (REGD.)

CHARTERED ACCOUNTANTS
Mulla House, 51, Mahatma Gandhi Road,

Mumbai - 400 023.
Tel. : 91-22-2204 7452 Fax : 91-22-2204 9994
E-mail : rddavar@gmail.com
AUDITOR'S REPORT
TO THE MEMBERS OF
ZENITH SECURITIES AND INVESTMENTS LTD.
1. We have audited the attached Balance Sheet of ZENITH SECURITIES AND INVESTMENTS LTD.,
as at 31st March, 2011, the Profit and Loss Account and the Cash Flow Statement for the year ended on that
date annexed thereto. These financial statements are the responsibility of the Company's management.
Our responsibility is to express an opinion on these financial statements based on our audit.
2. We conducted our audit in accordance with the accounting standards generally accepted in India. Those
standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial
statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting
the amounts and disclosures in the financial statements. An audit also includes assessing the accounting
principles used and significant estimates made by the management, as well as evaluating the overall financial
statement presentation. We believe that our audit provides a reasonable basis for our opinion.
4. Further to our comments in the Annexure referred to the above, we report that :
a)
We have obtained all the information and explanations, which to the best of our knowledge and belief
were necessary for the purpose of our audit;
b)
In our opinion, proper books of account as required by law have been kept by the Company so far as
it appears from our examination of those books;
c)
The Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this report are
in agreement with the books of account;
d)
In our opinion, the Balance Sheet, Profit and Loss Account and Cash Flow Statement dealt with by this
report comply with the Accounting Standards referred to in Sub-section (3C) of Section 211 of the
Companies Act, 1956 to the extent applicable;
e)
On the basis of written representation received from the Directors, as on 31st March 2011 and taken on
record by the Board of Directors, we report that none of the Director is disqualified as on 31st March,
2011 from being appointed as a Director in terms of Clause (g) of Sub-section (1) of Section 274 of the
Companies Act, 1956;
f)
In our opinion and to the best of our information and according to the explanation given to us, the said
accounts, read together with notes thereon, give the information required by the Companies Act, 1956
in the manner so required and give a true and fair view in conformity with the accounting principles
generally accepted in India :
i) In the case of the Balance Sheet, of the state of affairs of the Company as at 31st March, 2011;
ii) In the case of the Profit and Loss Account, of the Profit for the year ended on that date; and
iii) In the case of the Cash Flow Statement, of the cash flow for the year ended on that date.
Place : Mumbai
Date : 25 April, 2011
for CORNELIUS & DAVAR

CA. RUSTOM D. DAVAR
Partner
Membership No. F10620
AUDITOR'S REPORT
3. As required by the Companies (Auditor's Report) Order, 2003 as amended by the Companies (Auditor's Report)
(Amendment) Order, 2004 (together the Order) issued by the Central Government of India and explanation
given to us and the books and records examined by us in the normal course of audit and to the best of our
knowledge and belief, we give in the Annexure a statement on the matters specified in paragraphs 4 and 5 of
the said Order.
151
boIm narjH$m| Ho$ {VdoXZ H$m AZwbZH$

1.
(A) H$nZr Zo pWa n[agnpV`m| H$r pW{V Ed n[a_mUm_H$ {ddaU g{hV nyao {ddaU H$m A{^boI {H$`m h &
(Am) ~YZ mam pWa n[agnpV`m| H$m dmV{dH$ OmM g`m{nV H$s JB h, {Ogo H$nZr Ho$ AmH$ma Ed n[agnpV`m| Ho$ d$n H$mo
`mZ _| boVo hE, C{MV _mZm J`m h & CnamoV g`mnZ Ho$ AZwgma XVmdoOm| Ed dmV{dH$ OmM Ho$ ~rM H$moB dVwJV AVa
Zht h &
(B) df Ho$ XmamZ H$nZr Zo _hdnyU Ae `m{Z dmVmZwHy$b H$m {dH$` {H$`m Ama h_mao mam H$s J`r boIm narjm Ho$ AmYma na
h_mao _V` _| H${WV pWa n[agn{V Ho$ {dH$` go H$m`m_H$ gJR>Z AmYma na H$moB hm{Z Zht hB h &
152
2.
df Ho$ XmamZ H$nZr H$m `mnma / J{V{d{Y`m| H$s H${V Eogr Wr Omoo AmXoe H$s Ymam 4(ii) H$nZr H$mo bmJy Zht h &
3.
H$nZr Zo A{Y{Z`_ 1956 H$s Ymam 301 Ho$ AZwgma aIo Jò a{OQ>a _| CnbY H$n{Z`m|, ^mJrXmam| `m A` `pV`m| H$mo / go
H$moB G$U, {V^yV `m A{V^yV Ama G$U Zht {X`m / {b`m h & AV AmXoe H$s Ymam 4(iii) H$nZr Ho$ {bò bmJy Zht h &
4.
h_mar am` _| Ama h_| m nQ>rH$aU Ho$ AZwgma H$nZr H$m n[a_mU VWm CgH$s `mnma H${V Ho$ AZw$n n`m AmV[aH$ {ZÙ n{V
Omar h &
5.
~YZ mam {Xò Jò gyMZm Ama nQ>rH$aU Ho$ AZwgma df Ho$ XmamZ Eogo H$moB H$ama `m g_PmVm Zht {H$`m J`m h, {Ogo H$nZr A{Y{Z`_
1956 H$s Ymam 301 Ho$ VhV aIo Jò a{OQ>a _| XO H$aZm Ano{jV h & AV AmXoe H$s Ymam (v) (E) Ama (~r) H$nZr Ho$ {bò
bmJy Zht h &
6.
H$nZr A{Y{Z`_ 1956 H$s Ymam 58E Ama 58EE Ed VXZwgma J{R>V {Z`_m| Ho$ AW Ho$ AVJV H$nZr Zo OZVm go H$moB O_m drH$V Zht
{H$`m h &
7.
H$nZr _| H$moB AmV[aH$ boIm narjm Umbr Zht h, naVw H$nZr H$s {ZÙ H$m`{d{Y AnZo {dVr` Ama A` A{^boI H$s AmV[aH$ OmM
gw{ZpMV H$aVr h &
8.
H$nZr H$mo bmJV XVmdoO aIZo H$s Amd`H$Vm Zht h My{H$ H$nZr A{Y{Z`_ 1956 H$s Ymam 209 (1) (S>r) _| gy{MV J{V{d{Y`m| _|
bJr hB H$n{Z`m| H$s loUr _| Zht h &
9.
H$nZr Ho$ A{^boI Ho$ AZwgma H$nZr Ja{ddmXnX dYm{ZH$ Xo`VmAm| H$m C{MV m{YH$mam| Ho$ gmW ^wJVmZ H$a ahr h & Xo` E\$.~r.Q>r. hoVw
{ZYmaU df 2006-07 _| A 3,000/- {ZYmaU df 2007-08 _| A1,700/-, {ZYmaU df 2008-09 _| A 1,200/- ES>
{ZYmaU df 2009-10 _| A 1,400/- VH$ H$s am{e Ho$ {bò boIm _| mdYmZ {H$`m J`m h & H${WV am{e AXm Zht {H$`m J`m h Ama
Am` m{YH$mam| Ho$ gmW E\$.~r.Q>r. {ddaU O_m Zht {H$`m J`m h &
10.
Mmby {dVr` df _| H$nZr H$s H$moB g{MV hm{Z Zht hwB h VWm {dVr` df _| H$nZr H$s ZH X bm^ hAm h & dV_mZ {dVr` df _| bm^ d
hm{Z boIm Ho$ AZwgma A50.83 bmI H m cm^ hAm h &
11.
H$nZr Zo {H$gr ~H$ `m {dVr` gWmZ `m G$U n go H$moB CYma Zht {b`m h & AV AmXoe H$m IS> (xi) bmJy Zht h &
12.
H$nZr Zo eoà, G$U n `m A` {V^y{V`m| Ho$ ~YH$ Ho$ _m`_ go, {V^y{V Ho$ AmYma na H$moB G$U Ama A[J_ XmZ Zht H$s h &
13.
{MQ> \$S>, {Z{Y, `wMwAb \$S> / gWmAm| Ho$ {bE bmJy H$moB {deof A{Y{Z`_ Bg H$nZr H$mo bmJy Zht h &
ANNEXURE TO THE AUDITORS REPORT

1. a) The Company is maintaining proper records showing full particulars including quantitative details and
situation of fixed assets.
b) The fixed assets are physically verified by the management, which in our opinion is reasonable having
regard to the size of the company and the nature of its assets. Pursuant to above verification no material
discrepancy between the book records and the physical inventory has been noticed.
c) During the year, the company has disposed off a substantial part i.e., an Air-Conditioner and on the basis of
audit procedures performed by us, we are of the opinion that the sale of the said fixed assets has not affected
the going concern.
2. The nature of the Companys business/activities during the year is such that clauses 4(ii) of the Order is
not applicable to the Company.
3. The Company has not granted or taken any loans, secured or unsecured to / from companies, firms or other
parties covered in the register maintained under Section 301 of the Companies Act, 1956 and hence
clauses 4 (iii) of the Order is not applicable.
5. According to the information and explanation provided by the management, there have been no contract or
arrangement during the year that need to be entered in the registers maintained u/s 301 of the Companies
Act, 1956. Therefore, the provisions of clause (v) (a) and (b) of the Order are not applicable.
6. The Company has not accepted any deposits from the public within the meaning of Section 58A and 58AA of
the Companies Act, 1956 and rules framed thereunder.
7. The Company does not have internal audit system but its control procedures ensure reasonable internal checking
of its financial and other records.
8. The Company is not required to maintain the cost records, as the Company does not pertain to any class of
companies engaged in activities as specified in Section 209(1)(d) of the Companies Act, 1956.
9. According to the records of the Company, it is regular in depositing undisputed statutory dues with the
appropriate authorities except in the case of FBT payable and provided in the books of accounts for the
A.Y. 2006-07 A 3,000/-, A.Y. 2007-08 A 1,700/-, A.Y. 2008-09 A 1,200/- & A.Y. 2009-10 A 1,400/- but
same has not been paid and No Return of FBT has been filed with Income Tax authorities.
10. The Company has not accumulated losses and the Company has incurred profit in the current financial year.
The Company has incurred a profit of A 50.83 lacs during the current financial year as per the Profit and
Loss Account.
11. Since the Company has no borrowings from Banks or Financial Institution or debentures, reporting under
clause (xi) of the Order is not applicable.
12. The Company has not granted loans and advances on the basis of security by way of pledge of shares, debentures
or other securities.
13. The provisions of any special statute applicable to Chit Fund, Nidhis or Mutual Benefit Funds / Societies are
not applicable to the Company.
4. In our opinion and according to explanations given to us, there are adequate internal control procedures
commensurate with the size of the Company and the nature of its business.
153
14.
H$nZr eoà, G$U n `m {V^y{V`m| H$m `mnma H$aVr h & C{MV XVmdoOm| H m aImaImd H aVr h Ama g_` na XO H aVr h,
Ohm Ano{jV h
15.
h_| Xr JB OmZH$mar Ama nQ>rH$aU Ho$ AZwgma H$nZr Zo Xygao ~H$ mam Ama {dVr` gWmAm| go {bò Jò G$U hoVw H$moB {V^y{V
Zht Xr h &
16.
df Ho$ XmamZ H$nZr Zo H$moB gmd{Y G$U n m Zht {H$`m h &
17.
df Ho$ XmamZ H$nZr Zo H$moB AnH$mbrZ `m XrKH$mbrZ {Z{Y m Zht H$s h &
18.
h_| Xr J`r OmZH$mar Ama nQ>rH$aU Ho$ AZwgma df Ho$ XmamZ A{Y{Z`_ H s Ymam 301 Ho$ AVJV aIr J`r n{OH$m _| XO {H$ò Jò
^mJrXma VWm H$n{Z`m| H$mo H$nZr Zo H$moB A{Y_mZ eoà H$m Am~Q>Z Zht {H$`m h &
19.
Ogm {H$ H$nZr Ho$ nmg G$U n Zht h, G$U nm| Ho$ {bò `m^y{V Ho$ gOZ H$m Z Zht CR>Vm h &
20.
df Ho$ XmamZ H$nZr Zo gmdO{ZH$ {ZJ_Z Ho$ _m`_ go {Z{Y m Zht H$s h &
21.
h_mar gdmoV_ OmZH$mar Ama {ddmg Ama Xr J`r OmZH$mar Ama nQ>rH$aU Ho$ AZwgma df Ho$ XmamZ H$nZr na `m CgHo$ mam H$moB
H$nQ>nyU H$m` Zht nm`r `m gy{MV H$s JB h &
WmZ _w~B
{XZmH$25 Ab 2011
154
H$Vo H$mZu{b`g ES> Xmda

gZXr boImH$ma
grE. aVmo_ S>r Xmda
dm_r
gX`Vm g. F10620
14. The Company has dealt in shares and securities and proper records and timely entries have been made
wherever necessary.
15. According to the information and explanation given to us, the Company has not given any guarantee for loans
taken by others from the Banks or Financial Institutions.
16. The Company has not obtained any term loan during the year.
17. The Company has not raised any funds, short or long term, during the year.
18. Acccording to the information and explanations given to us, the Company has not made any preferential
allotment of shares to parties and companies covered in the Register maintained under Section 301 of the Act,
during the year.
19. Since the Company does not have any debentures, the question of creation of securities for debentures
does not arise.
20. The Company has not raised any money by public issues during the year.
Place : Mumbai
Date : 25 April, 2011
for CORNELIUS & DAVAR

CA. RUSTOM D. DAVAR
Partner
21. To the best of our knowledge and belief and according to the information and explantaions given to us,
no fraud on or by the Company was noticed or reported during the year.
155
31 _mM , 2011 H$mo g_mV df Ho$ {bò Oo{ZW
go`y[aQ>rO ES> BdoQ>_oQ>g {b{_Q>oS> Ho$ ImVo na, H$nZr A{Y{Z`_ 1956 H$s Ymam 619(4) Ho$
AYrZ, ^maV Ho$ {Z`H$ d _hmboImnarjH$ H$s {Q>nUr
31 _mM , 2011 H$mo g_mV df Ho$ {bò Oo{ZW
go`y[aQ>rO ES> BdoQ>_oQ>g {b{_Q>oS> H$m {dVr` {ddaU H$nZr A{Y{Z`_ 1938 Ho$ gmW n{R>V
~r_m {d{Z`m_H Ama {dH$mg m{YH$aU (AmB Ama S>r E) (~r_m H$n{Z`m| Ho$ {dVr` {ddaU Ama boIm narjm [anmoQ> H$s V`mar) {d{Z`_ 2002 Ama
H$nZr A{Y{Z`_ 1956 H$o VhV {ZYm[aV {dVr` {ddaU gaMZm Ho$ AZwgma V`ma {H$`m J`m h ,Omo H$nZr Ho$ ~YZ H$m Xm{`d h & H$nZr A{Y{Z`_
1956 H$s Ymam 619(2 ) Ho$ VhV ^maV Ho$ {Z`H$ d _hmboImnarjH$ mam {Z`wV gm{d{YH$ boIm narjH$ H$mo `dgm{`H$ gWm ^maVr` gZXr
bommH$ma gWmZ mam {ZYm[aV boIm narjm Ed ~r_m _mZH$m| Ho$ AZwgma dV boIm narjm Ho$ AmYma na, H$nZr A{Y{Z`_ 1956 H$s Ymam 227 H$o
VhV AnZm _V H$Q> H$aZo H$s {O_oXmar h & do boIm narjm {VdoXZ {XZmH$ 25 Ab 2011 _| AnZm _V H$Q> {H$ò h &
_Zo ^maV Ho$ {Z`H$ d _hmboImnarjH$ H$s Amoa go Oo{ZW go`y[aQ>rO ES> BdoQ>_oQ>g {b{_Q>oS> Ho$ 31 _mM 2011 H$mo g_m df Ho$ {dVr` {ddaU
H$nZr A{Y{Z`_ 1956 H$s Ymam 619 (3) (~r) Ho$ AYrZ AZwnyaH$ boIm narjm {H$`m & `h AZwnyaH$ boIm narjm gm{d{YH$ boIm narjH$m| Ho$
H$mJOmVm| H$mo {bò {~Zm dV $n go {H$`m J`m VWm `h _ybV gm{d{YH$ boIm narjH$m| H$s OmM Ed H$nZr H$m{_H$ Ama Hw$N> boIm A{^boIm| Ho$ MwZo
Jò narjU VH$ gr{_V h & _oar boIm narjm Ho$ AmYma na H$moB {d{eQ> {ddaU _oar OmZH$mar _| Zht Am`r h {Oggo H$nZr A{Y{Z`_ 1956 H$s Ymam
619(4) Ho$ AYrZ gm{d{YH$ boIm narjm {VdoXZ na `m CgHo$ AZwnyaH$ na H$moB {Q>nU Zht H$aZr h &
H$Vo ^maV Ho$ {Z`H$ Ama _hm boImnarjH$ Ama CZH$s Va\$ go
(AbH$m Ama. âdmO)

WmZ : _w~B
{XZmH$ : 31 _B , 2011
156
YmZ {ZXoeH$,dm{U{`H$ boIm narjm

VWm nXoZ gX`,boIm narjm ~moS,>_w~B
The preparation of financial statements of Zenith Securities and Investments Limited for the year ended
31st March 2011 in accordance with the financial reporting framework prescribed under the Companies Act, 1956
is the responsibility of the management of the company. The statutory auditor appointed by the Comptroller and
Auditor General of India under Section 619(2) of the Companies Act, 1956 is responsible for expressing opinion
on these financial statements under Section 227 of the Companies Act, 1956 based on independent audit
in accordance with the auditing and assurance standards prescribed by their professional body, the Institute of
Chartered Accountants of India. This is stated to have been done by them vide their Audit Report dated
25 April 2011.
I, on behalf of the Comptroller and Auditor General of India, have conducted a supplementary audit under Section
619(3)(b) of the Companies Act, 1956 of the financial statements of Zenith Securities and Investments Limited for
the year ended 31 March 2011. This supplementary audit has been carried out independently without access to the
working papers of the statuory auditor and is limited primarily to the inquiries of the statuory auditor and company
personnel and a selective examination of some of the accounting records. On the basis of my audit nothing significant
has come to my knowledge which would give rise to any comment upon or supplement to statuory Auditors report
under Section 619(4) of the Companies Act, 1956.
For and on behalf of the

Comptroller and Auditor General of India
Place : Mumbai
Date : 31st May 2011
(ALKA R. BHARDWAJ)
Principal Director of Commercial Audit and
Ex-Officio Member, Audit Board-I, Mumbai.
COMMENTS OF THE COMPTROLLER & AUDITOR GENERAL
COMMENTS OF THE COMPTROLLER & AUDITOR GENERAL OF INDIA UNDER SECTION 619(4) OF THE
COMPANIES ACT, 1956 ON THE ACCOUNTS OF ZENITH SECURITIES AND INVESTMENTS LIMITED
FOR THE YEAR ENDED 31st MARCH, 2011.
157
Oo{ZW go`y[aQ>rO ES> BdoQ>_oQ>g {b{_Q>oS> / ZENITH SECURITIES AND INVESTMENTS LIMITED
31 _mM 2011 H$s {XZm{H$V H$m VwbZn / BALANCE SHEET AS AT 31st MARCH 2011

moàYmaH$m| H$s {Z{Y / Shareholders Funds
Ama{j{V`m Ama A{Yeof / Reserves and Surplus
{db{~V H$a Xo`Vm / Deferred Tax Liability
AZw.
g`m
31.3.2011 H$mo
As at 31.3.2011
Sch.
No.
31.3.2010 H$mo
As at 31.3.2010
2,000,000
2,000,000
51,318,963
47,401,807
931
2,159
53,319,894
49,403,966
{Z{Y`m| H$m Cn`moJ / Application of Funds
Wm`r n[agnpV`m / Fixed Assets

gH$b bmH$ / Gross Block
KQ>mE : _y`mg / Less : Depreciation
ew bmH$ / Net Block
{Zdom / Investments
Mmby n[agnpV`m, G$U Ama A{J_
3
21,900
26,990
2,922
18,723
18,978
8,267
48,689,613
48,997,052
Current Assets, Loans and Advances
~H$m`m bm^me Am / Dividend due but not received

ZH$X Ama ~H$ eof / Cash and Bank Balances
G$U Ama A{J_ / Loans & Advances
498,785
588,470
5,678,638
1,344,664
11,860
12,269
6,189,283
1,945,403
404,592
369,506
1,173,388
1,177,250
1,577,980
1,546,756
KQ>mE : Mmby Xo`VmE Ama mdYmZ
Less : Current Liabilities and Provisions
Xo`VmE / Liabilities
mdYmZ / Provisions
ew Mmby n[agnpV`m / Net Current Assets
TOTAL
boIm na {Q>nUr / Notes to Accounts
398,647
53,319,894
49,403,966
12
CV {V[W na h_mao gbZ {VdoXZ Ho$ AZwgma

As per our report of even date attached.
H$Vo H$mZr{b`g AS> Xmda / For CORNELIUS & DAVAR
gZXr boImH$ma / Chartered Accountants
grE aVmo_ S>r Xmda / CA Rustom D. Davar
(dm_r / Partner)
gX`Vm g. E\$ 10620 / Membership No. F10620
WmZ : _w~B / Place : Mumbai
{XZmH$ : 25 Ab 2011 / Date : 25th April 2011
158
4,611,303

For and on behalf of the Board of Directors
hmo_r E\ . _ohVm
A`j
Eb. nr. _ohVm
~r.E_.R>H$a
S>r.EZ.ewbm
{ZXoeH$JU
Homi F. Mehta
Chairman
L.P. Mehta
B.M. Thakkar
D.N. Shukla
Directors
31 _mM 2011 H$mo g_m df Ho$ {bE bm^ Ama hm{Z ImVm
PROFIT AND LOSS ACCOUNT FOR THE YEAR ENDED 31st MARCH 2011
Sch.
No.
Am` / Income
{Zdoe $Ho$ Ad_y`Z hoVw mdYmZ Ano{jV Zht h
CZH$m {VboIZ {H$`m J`m (ew)
10
Provision for Diminution in value of

Investments, no longer required,
written back (Net)
IM / Expenditure :
H$m`mb` IM / Establishment Expenses
_y`mg / Depreciation
{Zdoe Ho$ Ad_y`Z hoVw mdYmZ
11
Provision for Diminution in value of

Investments
pWa n[agn{V`m| Ho$ {dH$` go hm{Z /

Loss on Sale of Fixed Assets
H$a Ho$ nyd bm^ / Profit Before Tax

KQ>mE H$a Ho$ {bE mdYmZ
Less :
6,333,708
6,451,667
7,739,872
6,333,708
14,191,539
390,827
254,276
1,032
1,168
783,682
5,757
1,181,298
255,444
5,152,410
13,936,095
Provision for Taxation
Mmby H$a / Current Tax

{nN>bo df H$m H$a / Earlier years tax
H$`mU gw{dYm H$a / Fringe benefit tax
{db{~V H$a / Deferred tax
H$a Ho$ ~mX bm^ / Profit After Tax
OmoS|> : JV df H$m eof
Add
31.3.2010 H$mo g_mV

df Ho$ {bE
For the year ended
31.03.2010
31.3.2011 H$mo g_mV

df Ho$ {bE
For the year ended
31.03.2011
Balance of last year
{d{Z`moOZ Ho$ {bE CnbY>
Available for Appropriation
{d{Z`moOZ / Appropriation
{deof Ama{j[V H$mo AVaU
Transfer to Special Reserves
gm_m` Ama{j[V H$mo AVaU
Transfer to General Reserves
70,394
9,196
(1,228)
69,166
(291)
8,905
5,083,244
13,927,190
18,011,166
12,853,926
23,094,410
26,781,116
2,800,000
2,800,000
4,800,000
4,800,000
AZw.
g`m
159
AZw.
g`m
Sch.
No.
Vm{dV bm^me / Proposed Dividend

bm^mm na H$a / Tax on Dividend
31.3.2011 H$mo
As at 31.3.2011
31.3.2010 H$mo
As at 31.3.2010
1,000,000
1,000,000
166,088
169,950
14,328,322
18,011,166
23,094,410
26,781,116
254.16
696.36
mof VwbZ n H$mo AJo{fV

Balance carried to Balance Sheet
{V eoà go Am` / Earnings per Share

boIm na {Q>nUr
Notes to Accounts
12

(dm_r / Partner)
160

hmo_r E\ . _ohVm
A`j
Eb. nr. _ohVm
~r.E_.R>H$a
S>r.EZ.ewbm
{ZXoeH$JU
Homi F. Mehta
Chairman
L.P. Mehta
B.M. Thakkar
D.N. Shukla
Directors
31 _mM 2011 H$mo g_m df Ho$ {bE VwbZ n _| g{_{bV AZwgy{M`m
SCHEDULES FORMING PART OF BALANCE SHEET AS AT 31st MARCH 2011
AZwgyMr - 1 - moà nyOr / SCHEDULE - 1 - SHARE CAPITAL
31.03.2011
A
m{YH$V / AUTHORISED
20,000 gm`me eoà (JV df 20,000) - òH$ A 100 /- H$m
20,000 Equity Shares (previous year 20,000) of A 100/- each
31.03.2010
A
2,000,000
2,000,000
2,000,000
2,000,000
2,000,000
2,000,000
{Zm{_V Ama MwH$Vm / ISSUED AND PAID UP

20,000 gm`me moà (JV dm 20,000) nòH$ A 100 H$m nyUV : MwH$Vm
20,000 Equity Shares (previous year 20,000) of A 100/- each
fully paid up of the above
1. 13,890 eoà (JV df 13,890) gm`me eoà `wZmBQ>oS> B{S>`m
B`ya|g H$nZr {br_Q>oS> > Ama eof 6,110 gm`me eoà A`
eoàYmaH$m| Ho$ A{YH$ma _| h
13,890 (previous year 13,890) Equity Shares are held by the

holding company, The United India Insurance Co. Ltd.
and balance 6,110 equity shares held by other shareholders
2. 10,000 gm`me eoàm| _| (JV df 10,000) {dVr` df
2005-06 _| gm_m` Ama{jV Ho$ nyOrH$aU go nyUV
MwH$Vm ~moZg eoà Ho$ $n _| {ZJ{_V {H$ò Jò h &
Out of the above 20,000 Equity Shares,

10,000 Equity Shares (previous year 10,000) have been
issued as fully paid-up bonus shares by capitalising
General Reserve in the Financial Year 2005-06.
AZwgyMr - 2 - Ama{j{V`m Ama A{Yeof / SCHEDULE - 2 - RESERVES AND SURPLUS

31.03.2011
A
nyOr Ama{jV / CAPITAL RESERVES
gm_m` Ama{jV / GENERAL RESERVES
JV df Ho$ VwbZ n Ho$ AZwgma / As per last Balance Sheet
OmoS>| : bm^ Ama hm{Z ImVo go AV[aV
ADD : Transfer from Profit and Loss Account
31.03.2010
A
351,537
17,827,104
A
351,537
13,027,104
4,800,000
4,800,000
22,627,104
17,827,104
gm{d{YH$ AmapjV
[aOd ~H$ A{Y{Z`_, 1934 H$s Ymam 451gr Ho$ AZwgma gOZ {H$`m J`m h &}
STATUTORY RESERVE
{Created pursuant to Section 451C of the RBI Act, 1934
as amended by the RBI (Amendment) Act, 1997)}
{dmof Ama{j{V`m / SPECIAL RESERVES

JV df Ho$ VwbZ n Ho$ AZwgma
As per last Balance Sheet
11,212,000
8,412,000
OmoS>| : bm^ Ama hm{Z ImVo go AV[aV

ADD : Transfer from Profit and Loss Account
2,800,000
14,012,000
2,800,000
11,212,000
bm^ Ama hm{Z ImVm
14,328,322
18,011,166
51,318,963
47,401,807
SCHEDULES
{^maVr` [aOd ~H$ (gemoYZ) A{Y{Z`_, 1997 mam gemo{YVmZwgma ^maVr`
161
AZwgyMr - 3 - Wm`r n[agnpV`m / SCHEDULE - 3 - FIXED ASSETS

31.03.2011
A
31.03.2010
A
H$m`mb` CnH$a / OFFICE EQUIPMENTS

gH$b bmH$ / Gross Block
01.04.2010 H$mo / As on 01.04.2010
26,990
26,990
dm Ho$ XmamZ OmoS>| / Additions during the year
19,500
df Ho$ {bE KQ>md / Deductions during the year

31.03.2011 H$mo / As at 31.03.2011
24,590
21,900
26,990
_y`mg / Depreciation
31.03.2010 VH$ / Upto 31.03.2010
18,723
17,555
1,032
1,168
16,833
2,922
18,723
18,978
8,267
df Ho$ XmamZ OmoS>| / Additions during the year

df Ho$ XmamZ KQ>md / Deductions during the year
31.03.2011 VH$ / Upto 31.03.2011
31.03.2011 H$mo ew bmH$ / NET BLOCK AS ON 31.03.2011
AZwgyMr - 4 - {Zdoe - XrKH$mbrZ (ImVm _y` na, Ja `mnm[aV, gbZ AZwgy{M`m| Ho$ AZwgma)
SCHEDULE - 4 - INVESTMENTS -LONG TERM (At Book Value, Non-trade, as per Annexed Schedules)
31.03.2011
A
31.03.2010
A
eoà / In Shares
(I) gyMr~ : gyMr A Ho$ AZwgma / Quoted : As per list A
~mOma _y` A 38,74,78,467/- (JV df A 33,54,54,735/-)
Market Value A 38,74,78,467/- (Previous Year A 33,54,54,735/-)
gyMr~ d gy{MV (nyUV: MwH$Vm ) / Quoted & listed (Fully paid)

KQ>mE
: gyMr~ {Zdoe Ho$ Ad_y`Z Ho$ {bE mdYmZ
Less
: Provision for diminution in value of Quoted Investments
(II) Ja gyMr~ : gyMr B Ho$ AZwgma / Unquoted : As per list C

gm`me eoà (nyUV MwH$Vm) / Equity Shares (Fully Paid)
A{Y_mZ eoà (nyUV MwH$Vm) / Preference Shares (Fully Paid)
: Ja gyMr~ {Zdoe Ho$ Ad_y`Z Ho$ {bE mdYmZ
Less : Provision for diminution in value of Unquoted Investments
31,208,541
30,732,299
31,208,541
30,732,299
639,307
200,886
30,569,234
30,531,413
384,192
384,192
68,144
68,144
452,336
452,336
452,336
452,336
20,100,000
20,100,000
KQ>mE
(III) `y`yAb \$S> `y{ZQ> / Units of Mutual Fund

gyMr B Ho$ AZwgma / As per list D
nwZH$ ` _y` . : A 2,53,22,405/- / Repurchase Value : A 2,53,22,405/(JV df A 2,53,73,138/-) / (Previous year A 2,53,73,138/-)
KQ>mE : `y`yAb \$S> {Zdoe Ho$ Ad_y`Z Ho$ {bò mdYmZ
Less : Provision for diminution in value of Mutual Fund Investments
Hw b / TOTAL
162
1,979,621
1,634,361
18,120,379
18,465,639
48,689,613
48,997,052
AZwgyMr - 4 - 31 _mM 2011 H$mo [Zdoe / SCHEDULE - 4 - INVESTMENTS AS ON 31st MARCH, 2011
pH$g/SCRIPS
A{H$V
_y` /
FACE
VALUE
A
31-03-2011 H$mo
AS ON 31-03-2011
A{H$V
_y` /
31-03-2010 H$mo
AS ON 31-03-2010
g`m
bmJV
FACE
VALUE
g`m
bmJV
Nos.
COST
Nos.
COST
gyMr À` gyMr~ / LIST A QUOTED

gmdO{ZH$ H$n{Z`m| Ho$ nyUV MwH$Vm gm`me eoà
FULLY PAID EQUITY SHARES OF PUBLIC COMPANIES
A~wOm gr_|Q>g {b{_Q>oS / AMBUJA CEMENTS LIMITED

E{e`Z noQ>g (B{S>`m) {b{_Q>oS>
ASIAN PAINTS (INDIA) LIMITED
141870
426745
141870
426745
10
8432
23883
10
8432
23883
10
700
1432723
10
700
1432723
2000
630869
2000
630869
mmaV hodr BbpQ>H$g {b.

BHARAT HEAVY ELECTRICALS LIMITED
^maVr EàQ>ob {b. / BHARTI AIRTEL LTD.

g|Qb ~H$ Am\ B{S`m / CENTRAL BANK OF INDIA
Eg S>r Abw{_{Z`_ {b{_Q>oS> / ESS DEE ALUMINIUM LTD.
\o$Sab ~H$ {b{_Q>oS / FEDERAL BANK LIMITED
Or E_ Ama B\ mQ>Ma {b{_Q>oS>
GMR INFRASTRUCTURE LIMITED
10
2000
469117
10
7000
1979948
10
7000
1979948
10
9000
1535190
10
9000
1535190
50000
1849034
50000
1849034
GREAT EASTERN SHIPPING COMPANY LIMITED
10
4889
70415
10
4889
70415
JoQ> Am\$emoa {b{_Q>oS> / GREAT OFFSHORE LIMITED

EM S>r E\$ gr ~H$ {b{_Q>oS / HDFC BANK LIMITED
EM S>r E\ gr {b{_Q>oS / HDFC LIMITED
qhS>mbH$mo BS>Q>rO {b{_Q>oS / HINDALCO INDUSTRIES LIMITED
{hXwVmZ `yZrbrda {b{_Q>oS> / HINDUSTAN UNILEVER LIMITED
AmB gr AmB gr AmB ~H$ {b{_Q>oS> / ICICI BANK LIMITED
BZ\$mo[gg Q>ZmobmoOrg {b{_Q>oS> / INFOSYS TECHNOLOGIES LIMITED
AmB.Eg.E_.Qr. {b{_Q>oS> / ISMT LIMITED
AmB Q>r gr {b{_Q>oS / ITC LIMITED
{H$bm}H$a `y_o{Q>H$ H$nZr {b{_Q>oS>
10
1222
18044
10
1222
18044
10
986
586398
10
986
586398
10000
241420
10
2000
241420
30458
728702
30458
728702
KIRLOSKAR PNEUMATIC CO. LIMITED
14000
84629
14000
84629
10
1000
1010689
10
1000
1010689
800
1442637
800
1442637
31
6000
31
6000
12400
1336441
6200
1336441
10
3862
145997
10
3862
145997
bmg}Z ES> Qy~mo {b{_Q>oS> / LARSEN AND TOUBRO LIMITED

_mg gr_oQ>g {b{_Q>oS> / MADRAS CEMENTS LIMITED
_{hm ES> _{hm {b{_Q>oS>
7536
1962084
7536
1962084
20000
7286
20000
7286
MAHINDRA AND MAHINDRA LIMITED
213332
221600
213332
221600
10
4400
126658
10
4400
126658
10
246
10558
10
246
10558
10
19
7125
{_H$ \y$S> {b{_Q>oS> / MILK FOODS LIMITED

_moXr a~S {b{_Q>oS> / MODI RUBBER LIMITED
Em Amo AmB Eb / MOIL
Zobo B{S>`m {b{_Q>oS> / NESTLE INDIA LIMITED
EZ Q>r nr gr {b{_Q>oS> / NTPC LIMITED
Amo EZ Or gr {b{_Q>oS> / ONGC LIMITED
amZ~mgr bo~moaoQ>rO {b{_Q>oS> / RANBAXY LABORATORIES LIMITED
[abm`g H$m{nQ>b {b{_Q>oS> / RELIANCE CAPITAL LIMITED
10
2550
15079
10
2550
15079
10
3771
233802
10
3771
233802
13620
1853991
10
3405
1853991
640
198630
640
198630
10
82
12693
10
82
12693
SCHEDULES
JoQ> BQ>Z {e{nJ H$nZr {b{_Q>oS>
163
pH$g/SCRIPS
A{H$V
_y` /
FACE
VALUE
./Rs.
31-03-2011 H$mo
AS ON 31-03-2011
A{H$V
_y` /
31-03-2010 H$mo
AS ON 31-03-2010
g`m
bmJV
FACE
VALUE
g`m
bmJV
Nos.
COST
Nos.
COST
[abm`g H$`y{ZHo$eU {b{_Q>oS>

RELIANCE COMMUNICATION LIMITED
10
1650
377861
10
1650
377861
[abm`g BS>Q>rO {b{_Q>oS> / RELIANCE INDUSTRIES LIMITED
10
6564
2596969
10
6564
2596969
10
1023
975462
10
1023
975462
10
1650
6835
10
461
20785
10
49
13950
16000
146028
16000
146028
SKF BEARINGS INDIA LIMITED
10
10000
658750
10
10000
658750
emo^m {S>dbong {b{_Q>oS> / SOBHA DEVELOPERS LIMITED
10
16
10240
10
16
10240
Q>oQ> ~H$ Am\$ B{S>`m / STATE BANK OF INDIA
10
2000
1931407
10
2000
1931407
SUNDARAM FASTENERS INDIA LIMITED
64000
36685
64000
36685
gwObmZ {b. / SUZLON LIMITED
5000
366469
5000
366469
VZbm gmo`yeg {b{_Q>oS> / TANLA SOLUTIONS LIMITED
122
16165
122
16165
10
6720
124580
10
6720
124580
3012
1481798
3012
1481798
TATA IRON AND STEEL CO. LIMITED
10
4086
554640
10
4086
554640
Q>mQ>m nmda H$nZr {b{_Q>oS> / TATA POWER COMPANY LIMITED
10
53840
1757449
10
53840
1757449
630000
1470333
630000
1470333
10
441
14533
10
441
14533
[abm`g BmQ Ma {b{_Q>oS>

RELIANCE INFRASTRUCTURE LIMITED
[abm`g ZoMwab [agmogg {b{_Q>oS>

RELIANCE NATURAL RESOURCES LIMITED
[abm`g nmda {b{_Q>oS> / RELIANCE POWER LIMITED

gr_oog B{S>`m {b{_Q>oS> / SIEMENS INDIA LIMITED
Eg Ho$ E\$ ~o[ag B{S>`m {b{_Q>oS>
gwXa_ \$mQ>Zg B{S>`m {b{_Q>oS>
Q>mQ>m Ho${_H$g {b{_Q>oS> / TATA CHEMICALS LIMITED

Q>mQ>m H$gQ>ogr gdugg {b{_Q>oS>
TATA CONSULTANCY SERVICES LIMITED
Q>mQ>m AmàZ ES> Q>rb H$nZr {b{_Q>oS>
Xr CJa ewJa dH$g {b{_Q>oS>

THE UGAR SUGAR WORKS LIMITED
AQ>m Q>oH$ go_oQg {b{_Q>oS> / ULTRA TECH CEMENTS LIMITED

Hw$b / TOTAL
1371781 31208541
1346585 30732299
gyMr `B` Ja gyMr~ / LIST B UNQUOTED

nyUV MwH$Vm gm`me eoà
FULLY PAID EQUITY SHARES OF
H$H$Vm Q>r_ Zo{dJofZ H$nZr {b{_Q>oS>

CALCUTTA STEAM NAVIGATION
COMPANY LIMITED
10
350
5,567
10
350
5567
bmBd {_g {b{_Q>oS> / CLIVE MILLS LIMITED
10
450
10
450
10
7796
80503
10
7796
80503
10
500
61444
10
500
61444
H$_{e`b Ho [S>Q> H$mnm}aoeZ (1943) mBdoQ> {b{_Q>oS>

COMMERCIAL CREDIT CORPORATION (1943)
PRIVATE LIMITED
{X Jm`H$dmS> {_g {b{_Q>oS>

THE GAEKWAR MILLS LIMITED
164
pH$g/SCRIPS
A{H$V
_y` /
FACE
VALUE
31-03-2011 H$mo
AS ON 31-03-2011
g`m
bmJV
Nos.
COST
A{H$V
_y` /
FACE
VALUE
31-03-2010 H$mo
AS ON 31-03-2010
g`m
bmJV
Nos.
COST
BS>EpH$n BOr[Z`[aJ H$nZr {b{_Q>oS>

INDEQUIP ENGINEERING CO. LTD.
100
1496
161302
100
1496
161302
10
960
9238
10
960
9,238
100
226
22456
100
226
22456
100
250
25000
100
250
25000
10
1340
18682
10
1340
18,682
100
500
100
500
BpS>`Z AmàZ ES> Q>rb H$nZr {b{_Q>oS> $

INDIAN IRON AND STEEL CO. LTD.
Zdgmar H$mQ>Z ES> {gH$ {_g {b{_Q>oS> $

NAVSARI COTTON AND SILK MILLS LIMITED
r_rà nona {_g {b{_Q>oS>

PREMIER PAPER MILLS LIMITED
amOm ~wbX ewJa H$nZr {b{_Q>oS>

RAZA BULUND SUGAR COMPANY LIMITED
Q>H$Mab BOr{Z`[aJ dg {b{_Q>oS>

STRUCTURAL ENGINEERING WORKS LIMITED
Hw$b /TOTAL
nyUV MwH$Vm A{Y_mZ eoà
384192
384192
FULLY PAID PREFERENCE SHARES OF

4% ~grZ BbpQ>H$ gbmB H$nZr {b{_Q>oS>
4% BASSEIN ELECTRIC SUPPLY COMPANY LIMITED
50
333
16650
50
333
16650
7.25% EQ>obm ~Q>[ag {b{_Q>oS>

7.25% ESTRELA BATTERIES LIMITED
100
50
2744
100
50
2744
9.5% BS> Bpdn BOr{Z`[aJ H$nZr {b{_Q>oS>

9.5% INDEQUIP ENGINEERING COMPANY LIMITED
100
500
48,750
100
500
48,750
Hw$b /TOTAL
Hw$b OmoS> B/ GRAND TOTAL C
gyMr B `yMwAb \$S> Ho$ Ae bm^me {dH$n
68144
68144
452336
452336
LIST D MUTUAL FUND UNITS DIVIDEND OPTION
EM Eg ~r gr BpdQ>r \$S> / HSBC EQUITY FUND

Q>mQ>m B\$mQ>H$M \$S> / TATA INFRASTRUCTURE FUND
H$moQ>H$ {_S> H$mn \$S> / KOTAK MID CAP FUND
{\$S{b{Q> BpdQ>r \$S> / FIDALITY EQUITY FUND
\o H${cZ B{S`m _mba H$n{Zg \$S>
10
94652
2000000
10
94652
2000000
10
293399
3000000
10
293399
3000000
10
332518
3400000
10
332518
3400000
10
68460
700000
10
68460
700000
FRANKLIN INDIA SMALLER COMPANIES FUND
10
100000
1000000
10
100000
1000000
[abm`g JmoW \$S> / RELIANCE GROWTH FUND

gwXa_ ~rEZnr n[a~g {gboQ> {_S> H$mn \$S>
10
49253
3000000
10
49253
3000000
SUNDARAM BNP PARIBAS SELECT MIDCAP FUND
10
154577
3000000
10
154577
3000000
10
48239
1000000
10
48239
1000000
RELIANCE MEDIA & ENTERTAINMENT FUND
10
34643
1000000
10
34643
1000000
[abm`g ~qH$J \$S> / RELIANCE BANKING FUND

[abm`g S>da{g\$mBS> nmda goQ>ma \$S>
10
37327
1000000
10
37327
1000000
RELIANCE DIVERSIFIED POWER SECTOR FUND
10
18872
10,00,000
10
18872
1000000
ICICI INFRASTRUCTURE FUND
[abm`g _r{S>`m ES> EQ>aQ>_oQ> \$S>
Hw$b OmoS > ( A + Am + B + B ) / GRAND TOTAL ( A+ B+C+D)
20100000
20100000
51308541
51284635
SCHEDULES
AmB gr AmB gr AmB B\$mQ>H$Ma \$S>
165
31.03.2011
A
31.03.2010
A
Mmcy n{agn{V`m, G$U Ama A{J_

CURRENT ASSETS, LOANS & ADVANCES
A. Mmby n[agnpV`m / A. CURRENT ASSETS

AZwgyMr - 5 / SCHEDULE - 5
~H$m`m bm^me Am / Dividend due but not received
Eg Ho$ E\$ B{S>`m {b. / SKF India Ltd
A~wOm {g_oQ> {b. / Ambuja Cement Ltd
Zobo B{S>`m {b. / Nestle India Ltd.
amZ~gr / Ranbaxy
QmQm `yMwAc \$S> / Tata Mutual Fund
[abm`g JmoW \$S>>/Reliance Growth Fund
[abm`g S>da{g\$mBS> nmda goQ>ma \$S>
Reliance Diversifed Power Sector Fund
70,000
40,000
198,618
170,244
31,875
31,875
1,280
176,039
197,012
123,132
47,180
498,785
588,470
377
1,154
5,472,225
1,131,974
206,036
211,536
5,678,638
1,344,664
10,660
10,660
ZH$X d ~H$ eof / CASH AND BANK BALANCES
ZH$X / Cash on hand
`w{Z`Z ~H$ Am\$ B{S>`m Ho$ gmW eof
Balance with Union Bank of India
Mmby ImVo _| / On Current Account

AXV bm^me ImVo _| /On unpaid dividend accounts
Am. G$U Ama A{J_ / B. LOANS & ADVANCES

{dwV O_m
Electricity Deposit
mwXmg brbmXa m.{b / Prabhudas Lilladher Pvt Ltd.

nyd AXm`Jr `` / Prepaid Expenses
1,200
1,600
11,860
12,269
192,669
150,748
5,787
3,000
206,136
215,758
404,592
369,506
A. Mmby Xo`VmE / A. CURRENT LIABILITIES
IM hoVw {d{dY XoZXma / Sundry creditors for expenses
`dgm{`H$ ewH$ na Xo` moV na H$mQ>m J`m H$a
TDS payable on Professional Fees
BdoQ>ma ESw>Ho$eZ Ama A{âjm {Z{Y

Investor Education & Protection Fund/s
AXmdmH$V bm^me * / Unclaimed Dividends*

* 31 _mM 2011 H$mo Bd|Q>ma ESw>Ho$eZ Ama A{âjm {Z{Y H$mo H$moB am{e Xo`
VWm ~H$m`m Zht h & am{e Xo` hmoZo na {Z{Y H$mo AXm {H$`m OmEJm &
*
There is no amount due and outstanding to be paid to the Investor

Education and Protection Fund as at 31 March 2011. These
amounts shall be paid to the fund as and when they become due.
st
166
31.03.2011
A
31.03.2010
A
Am. mdYmZ / B. PROVISIONS
H$`mU gw{dYm H$a Ho$ {bE mdYmZ / Provision for Fringe Benefit Tax
{ZYmaU df / AY 2006-07
Vm{dV bm^me / Proposed Dividend
Vm{dV bm^me na H$a / Tax on proposed Dividend
3,000
3,000
1,700
1,700
1,200
1,200
1,400
1,400
1,000,000
1,000,000
166,088
169,950
1,173,388
177,250
4,661,769
3,769,936
1,671,681
2,675,370
258
1,195
5,166
6,333,708
6,451,667
16,836
16,836
10,098
6,177
3,682
3,094
1,144
A` Am` / Other Income
Ja `mnm[aV {Zdoem| na bm^me / Dividend-Non-Trade Investments
- H$nZr Ho$ gm`me eoàm| go / from Equity Shares of Companies
- `yMwAb {Z{Y H r BH$mB`m| go / from Units of Mutual Funds
^mJr` hH$Xmar /Fractional Entitlements
Am` H$a [a\$S> na `mO / Interest on Income Tax Refund
{VR>mnZ Ed A` IM / Administrative & other Expenses

{H$am`m / Rent
_wU Ama boIZ gm_Jr / Printing and Stationery
S>mH$ Vmm \$mqH$J / Postages & Franking
S>r_oQ> ^ma / Demat charges
~H$ ^ma / Bank charges
{ZXoeH$m| H$m ewH$ / Directors Fees
{ZXoeH$m| H$m mmZr` n[adhZ ^Vm / Directors Local Conveyance Allowance
boIm narjH$m| H$m doVZ / Auditors Remuneration
- boIm narjm ewH$ / Audit fees
- boIm narjm na godm H$a / Service Tax on Audit fees
{d{dY IM / Sundry Expenses
{d{Y d `dgm{`H$ ^ma / Legal & Professional Fees
- `dgm{`H$ ^ma / Professional Fees
n[adhZ `` / Conveyance expenses
_a_V Ama AZwajU / Repairs and maintenance
\$mBqbJ mwH$ / Filing Fees
bmBg|g mwH$ / Licence fees
`dgm{`H$ H$a / Professional tax
11,893
1,179
50,000
30,000
23,000
15,000
30,000
30,000
3,090
3,090
9,215
6,918
223,233
133,703
1,286
2,609
900
850
3,550
1,920
400
400
2,500
2,500
390,827
254,276
SCHEDULES
167
AZwgyMr - 12
31 _mM 2011 H$mo g_m df Ho$ coImAm| _| g{_{cV {Q>n{U`m
1.
_hdnyU boIm Zr{V`m

1.1
gm_m`
Eo{Vhm{gH$ bmJV Ho$ AmYma na boIm V`ma {H$`m J`m h &
1.2
amOd H$s _m`Vm

Am` Ama `` CnmOZ Ho$ AmYma na, Hw$N> AndmXm| Ho$ AZwgma V`ma {H$`m J`m h &
1.3
{Zdoe
(A) {Zdoe H$mo VwbZ n _| H _ bmJV go {Zdoe Ho$ Ad_y`Z hoVw mdYmZ H$mo KQ>mH$a Xem`m J`m h & {Zdoe Ho$ {dH ` go m
bm^ / hm{Z H$mo H${WV df Ho$ Am` Ho$ $n _| {b`m J`m h {Og df _| {dH ` {H$`m J`m h & gyMr~ eoà VWm nman[aH$ {Z{Y
Ho$ ~mOma _y` H$mo AZwgyMr _| Xem`m J`m h Omo VwbZ n H$s {Q>nUr ~ZVr h &
(Am) Ja gyMr~ gm`me VWm A{Y_mZ eoàm| Ho$ Ad_y`Z hoVw eV{VeV H$m mdYmZ {H$`m J`m h VWm {Zdoe go H$Q>mVr Ho$
$n _| Xem`r J`r h &
H _ g.
(A)
(Am)
(B)
Ohm gyMr~ eoà H$m ~mOma _y` bmJV _y` go H$_ hmo dhm Ad_y`Z hoVw mdYmZ {H$`m J`m h &
(B)
{ZZ{b{IV Ja gyMr~ eoà H$nZr Ho$ A{YH$ma _| h, BZ {Zdoem| H$m _y` ey` h &
pH$n H$m Zm_

bmBd {_g {b{_Q>oS>
A{H$V _y` (.)
eoàm| H$s gm`m
bmJV (A)
10
450
100
500
--
Q>H$Mab BOr{Z`[aJ dg {b{_Q>oS>

(C)
df Ho$ XmamZ {ZZ{b{IV {Zdoe H$m H ` VWm {dH ` hAm h :

df Ho$ XmamZ H `
df Ho$ XmamZ {dH `
pH n H$m Zm_
n[a_mU
g|Qc ~H$ Am\ B{S`m>> _| nyUV MwH$Vm gm`me
eoà òH$ A10/- H$m
168
_y` (.)
n[a_mU
_y` (A)
200
469117/-
19
7,125/-
AmB nr Amo Ho$ VhV Em Amo AmB Eb _| nyUV

MwH$Vm gm`me eoà òH$ A10/- H$m
EM Sr E\ gr _| nyUV MwH$Vm gm`me eoà òH$ A2/- H$m
8000
eoàm| Ho$ Cn {d^mOZ Ho$ H$maU ey`
AmB Qr gr>. _| nyUV MwH$Vm gm`me eoà òH$ A1/- H$m
6200
eoàm|o Ho$ Cn {d^mOZ Ho$ H$maU ey`
Amo EZ Or gr. _| nyUV MwH$Vm gm`me eoà òH$ A5/- H$m
3405
Amo EZ Or gr. _| nyUV MwH$Vm gm`me eoà òH$ A5/- H$m

[abm`g nda {b. _| nyUV MwH$Vm gm`me eoà òH$
A10/- H$m
6810

6835 ([abm`g ZmMwab [agmogg
{b. Ho$ g{mlU Ho$ H$maU m hAm )
412
SCHEDULE 12
NOTES FORMING PART OF ACCOUNTS FOR THE YEAR ENDED 31st MARCH, 2011
1. Significant Accounting Policies :
1.1.
General :
These accounts are prepared on the historical cost basis.
1.2.
Revenue Recognition :
All revenue and expenses are accounted on accrual basis except to the extent stated otherwise.
1.3.
Investments :
(i)
Investments are shown at purchase cost in the Balance Sheet less Provision for Diminution in
Value. The profit/loss on sale of investments are taken as income of the year in which transaction
took place. The market value of quoted shares & Mutual funds has been shown in the Schedule
as a note attached to the Balance Sheet.
(ii) Regarding Unquoted equity and preference shares, hundred percent provision made for the
diminution in value and shown as a deduction from the investment.
(iii) Regarding quoted shares, whenever market value is less than cost price, the amount has been
provided as diminution in the value.
(iv) Regarding following unquoted shares held by the Company the cost of these investments is shown
as zero.
Sl. No.
Name of the Scrip
Face Value (Rs.)
Number of Shares
Cost (A)
(a)
Clive Mills Limited
10
450
--
(b)
Structural Engineering Works Limited
100
500
--
(v) The following investments were acquired and sold during the year :
Purchased during the year
Sold during the year
Name of the Scrip

Value (A)
Quantity
Value (A)
Equity share of A 10/- each fully paid in

Central Bank of India
200
469117/-
Equity share of A 10/- each fully paid up

in MOIL under IPO
19
7,125/-
Equity share of A 2/- each fully paid in HDFC
8000
NIL-being Subdivision of Shares
Equity share of A 1/- each fully paid in ITC Ltd.
6200
NIL - being Bonus Shares
Equity share of A 5/- each fully paid in ONGC
3405
NIL-being Subdivision of Shares
Equity share of A 5/- each fully paid in ONGC
6810
NIL - being Bonus Shares
Equity share of A 10/- each fully paid in

Reliance Power Ltd.
412
6835/- (Being received on

amalgamation of Reliance Natural
Resources Ltd.)
SCHEDULES
Quantity
169
1.4
pWa n[agnpV`m Ama _y`hmg
pWa n[agnpV`m| H$m A{YJhU bmJV na _y`mH$Z {H$`m J`m h &

H$nZr A{Y{Z`_ 1956 H$s Ymam XIV _| Xr J`r n{V Ho$ AZwgma pWa n[agnpV`m| na Ad_y`Z H _ grYr Umbr go h &
1.5
Am` na H a
Am` H$a A{Y{Z`_ 1961 Ho$ mdYmZm| Ho$ AZwgma Mmby boIm Ad{Y Ho$ {bò AZw_m{ZV H$a `mo` Am` Ho$ AmYma na Mmby H$a H$s `dWm H$s
J`r h &
Mmby df Ho$ {bò ImVm Ama H$a `mo` bm^ H$mo g_`mVa go Cn b{~V H$a H$mo H$a Xam| Ho$ {bò boIm{H$V {H$`m J`m h Ama VwbZ n H$s
VmarI H$mo Ano{jV eVm] H$mo bmJy {H$`m J`m h & {db{~V H$a n[agn{V {Ogo m H$aZo H$s g^mdZm h d ^{d` _| gm_O` {H$`m OmEJm & Cg
hX VH$ A{^km{nV Ama AJo{UV H$s J`r h &
1.6
AmH$p_H$ Xo`VmE
1.6 (1) 31 _mM 2011 H$mo AXmdmH$V bm^me A 2,06,136/- h {Og_| A 2,06,036/- H$s am{e ~H$ eof Ho$ {bò {ZYm[aV h &
BgHo$
\$bd$n A 100/- H$s H$_r h & ~H$ mam ImVm / `yZV_ eof Ho$ aIaImd hoVw CXJhrV ^md go `h H$_r Cn hB h & H$nZr
Zo ~H$ H$mo V{Q>nydH$ bm^me ImVo _| bJmò Jò ^ma H$s gyMZm Xr d Cgo ImVo _| Xw~mam O_m H$aZo H$m AZwamoY {H$`m h &
{\$a ^r H$nZr `{X AXmdmH$V bm^me eoàYmaH$m| mam Xmdm H$aZo na `m H$nZr A{Y{Z`_ 1956 H$s Ymam 205-gr Ho$ mdYmZ
Ho$ AYrZ {ZdoeH$m| Ho$ {ejm VWm gwajm {Z{Y _| AV[aV H$aZo hoVw Xo` hmo Vmo H$nZr Zo Bg H$_r H$mo R>rH$ {H$`m h / H$aoJr &
1.6 (2)
`` Ho$ {bò {d{dY boZXma _| 01.02.2003 go Xo` A 1,37,672/- gp_{bV h& n[aga Ho$ _m{bH$ ga hmo_r _ohVm Q>Q> Zo
H$nZr mam br JB n[aga H$mo Imbr H$aZo hoVw gyMZm Xr h VWm bKw _m_bm| Ho$ `m`mb` _| _w`V n[aga H$mo Imbr H$aZo hoVw dmX
XO {H$`m & CnamoV dmX _| n[aga Ho$ _m{bH$ AV[a_ amhV Ho$ $n _| A 110/- {V dJ \w$Q> {V _mh Ho$ Xa na `m {g{db g{hVm
{H `m Ho$ AmXoe 20 {Z`_ 12 (0.20 Ama. 12) Ho$ AYrZ OmM Ho$ CnamV _mZZr` `m`mb` mam Omo Xa ghr g_PVo h & CgH$mo
^wJVmZ H$aZo H$m AZwamoY {H$`m h &
narjU `m`mb` Zo {S>H s H$a {ddmXmnX n[aga go Imbr H$aZo H$m AmXoe Omar {H$`m & bKwdmX `m`mb` _| Anrb H$aZo na
narjU `m`mb` Ho$ AmXoe H$mo OwbmB 2008 _| W{JV {H$`m & {\$a ^r n[aga Ho$ _m{bH$ Zo Bg `m`mb` Ho$ AmXoe Ho$ {d
~~B C `m`mb` _| {g{db gemoYZ AmdoXZ XO {H$`m Omo b{~V h &
bKwdmX `m`mb` Zo O.20 Ama.12 AV H$mbrZ bm^ Ho$ g~Y _| OmM H$aZo H$m AmXoe Omar {H$`m Omo b{~V h & Bg pW{V _| AV
H$mbrZ bm^ H$m AmH$bZ Zht {H$`m Om gH$Vm h VWm CgHo {cE ~Y Zht {H$`m J`m h &
1.6 (3)
2.
[aH mS Ho AZwgma AmH bZ df 2003-04 Ho {bE Xo` Am`H a ~H m`m ampem A 6,977/- h Omo {ddm[XV h Ama 31 _mM 2011 H r
{W{V Ho AZwgma ~H m`m h &
boIm na {QnUr
1.
{V eoà go Am` (B.nr.Eg.) ^maVr` gZXr boImH$ma gWm mam Omar boIm _mZH$ 20 Ho$ AZwgma {V eoà go Am` H$m n[aH$bZ
{ZZ{b{IV H$ma go {H$`m J`m h :
{dVr` df
gm`me moàYmaH$m| hoVw CnbY ew bm^
A{Y_mZ AmgV na gm`me eoàm| H$s g`m
gm`me eoàm| H$m A{H$V _y`
[V eoà go Am` (BnrEg)
170
2010-2011
2009-2010
A 5083244
A 13927190
20,000
20,000
A 100
A 100
A 254.16
A 696.36
1.4.
Fixed Assets & Depreciation :

Fixed Assets are stated at their cost of acquisition.
Depreciation is provided on Straightline Method at the rates and on the basis specified in
Schedule XIV to the Companies Act, 1956.
1.5.
Taxes on Income :
Provision for current tax is made on the basis of estimated taxable income for the current accounting
period in accordance with the provisions of Income Tax Act 1961.
Deferred tax resulting from timing difference between book and taxable profit for the year is
accounted for using the tax rates and laws that have been enacted or substantially enacted as on the
balance sheet date. The deferred tax asset is recognized and carried forward only to the extent
there is a reasonable certainty that the deferred tax assets will be adjusted in future.
1.6.
Contingent Liabilities :
1.6 (1) The unclaimed dividend as on 31st March 2011 is A 2,06,136/- against which bank
balance in the earmarked accounts is A 2,06,036/- resulting in a deficit of A 100/-.
The said deficit has arisen due to the charges levied by the bank for the maintenance of the
account / minimum balance. The Company has intimated the bank about the said erroneous
levy of charges in the dividend account and has requested the bank to reverse the same.
However, the Company has made/will make good the difference, if the unclaimed dividend
is claimed by the Shareholders or the same will be due for transfer to the Investors Education
and Protection Fund in terms of Provision of Section 205C of the Companies Act, 1956.
1.6 (2) Sundry creditors for Expenses includes A 1,37,672/- amount payable since 01-02-2003.
The landlord Sir. Homi Mehta Trust, had sent the notice for the eviction of the premises
occupied by the Company and had also filed the suit in the Court of Small Causes mainly for
the eviction. In the said suit, the landlord, had prayed for the interim relief of A 110/per sq. feet per month or at such rate as the Hon. Court may deem fit after enquiry under Order 20
Rule 12 (O.20 R.12) of the Code of Civil Procedure.
The trial court decreed and ordered eviction from the suit premises. On appeal before the
Small Causes Court, the judgement of the trial court was set aside in July 2008. However,
thereafter landlord has filed a Civil Revisionary Application against this judgement in the
Bombay High Court, which is pending.
The Small Causes Court had also ordered for an enquiry in terms of O.20 R.12 for manse
profit, which is pending. In view of this, the manse profit is not quantifiable at this stage and
not provided for the same.
1.6 (3) As per records, there is A 6,977/- income tax dues payable for the Assessment year 2003-04
st
which is disputed and remain outstanding as on 31 March, 2011.
1.
Earning Per Share (EPS) : Earning Per Share (EPS) is computed in accordance with the Accounting
Standard 20 issued by the Institute of Chartered Accountants of India as under :
Financial Year
2010-2011
2009-2010
Net Profit available for Equity Shareholders
A 5083244
A 13927190
Weighted average no. of equity shares
20,000
20,000
Face value of equity shares
Rs. 100
Rs. 100
A 254.16
A 696.36
Earning Per Share (EPS)
SCHEDULES
2. Notes on Accounts :
171
2.
g~{YV nj H$m H$Q>rH$aU

^maVr` gZXr boImH$ma gWm mam Omar boIm _mZH$ - 18 go g~{YV nj H$m H$Q>rH$aU, Ho$ AZwnmbZ _|, g~{YV nj H$o H$Q>rH$aU H$m
{ddaU {ZZ{b{IV H$ma go h
H _ g.
{ddaU Ama g~{YV nj

A) {Z`{V H$nZr
`wZmBQ>oS> B{S>`m B`ya|g H$nZr {b{_Q>oS>
Am) _w` ~YZ H$m`nmbH$
lr. hmo_r E\$. _ohVm - A`j
B) _w` ~YZ H$m`nmbH$ Ho$ gmW g~Y
lr_Vr AZm{hVm _ohVm - hmo_r _ohVm H$s nZr
lr_Vr O[aZr N>mo{Q>`m - hmo_r _ohVm H$s ~hZ
B) g~ H$nZr / Q>Q>
gdmQ>og mBdoQ> {b{_Q>oS>
ga hmo_r _ohVm Q>Q>
H$m`{ddaU H$s H${V
A 6,89,500/-
bm^me
~R>H$ ewH$
n[adhZ
bm^me
--
A 11,000/A 7,000/A 3,400/-
-A 900/-
bm^me
--
-A 16,836/-
{H$am`m
3.
{ZXoeH$_S>b H$s am` _| Mmby n[agnpV`m, G$U Ama A{J_ H$m CppmV _y`, gm_m` H$mamo~ma H$s Ad{Y Ho$ XmamZ dgybr `mo` _y` Ho$
~am~a h & g_V Xo`VmAm| Ama _y`mg Ho$ {bò `dWm H$s J`r {Z{Y n`m h Ama Ano{jV {Z{Y go A{YH$ h &
4.
{db{~V H$a n[agnpV`m Ama Xo`VmE {ZZ{b{IV eVm] Ho$ A`YrZ hmo
{ddaU
pWa n[agnpV`m - ImVo Ho$ AZwgma S>~`yS>rdr
pWa n[agnpV`m - Am` H$a Ho$ AZwgma S>~`yS>rdr
AVa
31-03-2011
31-03-2010
18978
8267
15964
1280
3014
904
6987
2096
27
63
931
2159
30 % H$m H$a
${ejm H$a @ 3 %
Hw$b {db{~V H$a Xo`Vm
5. JV df Ho$ AmH$S>m| H$mo nwZJ{RV,nwZdJrH$aU Ama nwZ{ZYmaU {H$`m J`m h, Ohm VH$ Amd`H$ Wm

H$Vo H$mZr{b`g AS> Xmda
gZXr boImH$ma
grE aVmo_ S>r Xmda
(dm_r )
gX`Vm g. E\$ 10620
WmZ : _w~B
VmarI : 25 Ab 2011
172
am{e (A)
&

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A`j
Eb. nr. _ohVm
~r.E_.R>H$a
S>r.EZ.ewbm
{ZXoeH$JU
2. Related Party Disclosure :

Related party disclosures as required by Accounting Standard - 18 Related Party Disclosures issued by the
Institute of Chartered Accountants of India are given below :
Sl. No.
Particulars and Related Party
Nature of Transaction
a) Holding Company :
United India Insurance Co. Ltd.
Dividend
b) Key Management Personnel :

Mr. Homi F. Mehta - Chairman
Meeting Fees
Conveyance
Dividend
c) Relative of Key Management Personnel :

Mrs. Anaheeta Mehta - Wife of Homi Mehta
Mrs. Zarine Chothia - Sister of Homi Mehta
d)
Amount (A)
A 6,89,500/A 11,000/A 7,000/A 3,400/-
-Dividend
Associate Concern / Trust :

Savatex Pvt. Ltd.
Sir Homi Mehta Trust
-Rent
-A 900/-
-A 16,836/-
3. In the opinion of the Board, the current assets, loans and advances are approximately of the value stated,
if realized in the ordinary course of business and provision for all known liabilities and depreciation are
adequate and not in excess of the amount reasonably necessary.
4. Deferred Tax assets and liability are attributable to the following terms :
Particulars
Fixed assets - WDV as per Books
Fixed Assets - WDV as per I.T.
Difference
Tax @ 30%
Education Cess @ 3%
Total Deferred Tax Liability
31-03-2011
18978
15964
3014
904
27
931
31-03-2010
8267
1280
6987
2096
63
2159

For CORNELIUS & DAVAR
CA Rustom D. Davar
(Partner)
Place : Mumbai
Date : 25th April 2011

Homi F. Mehta
Chairman
L.P. Mehta
B.M. Thakkar
D.N. Shukla
Directors
SCHEDULES
5.Previous years figures have been regrouped, rearranged and recast wherever considered necessary.
173
31 _mM 2011 H$mo g_m df Ho$ {bò H$e \$bmo [ddaU
CASH FLOW STATEMENT FOR THE YEAR ENDED 31st MARCH, 2011
[ddaU / Particulars
nMmbZ H$m`m] go H$e \$bmo / Cash Flow from Operating Activities
XmdoXmam| H$mo AXm {H$`m J`m `` / Payment to creditors for expenses
H$a (AXm {H$`m J`m) / ar\$S> (ew) / Taxes (Paid) / Refunds (Net)
[Zdoe H$m`m] go H$e \$bmo / Cash Flow from Investing Activities
bm^me m / Dividend received
{Zdoe H$s {~H$s / {d_moMZ / Sale / Redemption of investment
^mJr` hH$Xmar m / Fractional entitlement received
{Zdoe H$m H$` / Purchase of investments
[Zdoe H$m`m] go H$e \$bmo / Cash Flow from Investing Activities
AXm {H$`m J`m bm^me / Dividend paid
ew ZH$X Ama ZH$X g_Vw` / Net Cash & Cash Equivalents
OmoS|> : df Ho $ ma^ _| ZH$X Ama ZH$X g_Vw`
Add : Cash and Cash Equivalents at the beginning of the year
df H$s g_m[ na ZH$X Ama ZH$X g_Vw`
Cash and Cash Equivalents at the end of the year
2010-11
A
2009-10
A
(345,720)
(235,550)
(70,394)
62,470
(416,114)
(173,080)
6,423,393
5,933,631
--
--
--
--
(493,733)
(5,304,515)
5,929,660
629,116
(1,179,572)
(1,098,600)
(1,179,572)
(1,098,600)
(4,333,974)
(642,565)
1,344,664
1,987,229
5,678,638
1,344,664
ZmoQ> : bomm _mZH$ 3 Ho$ AZwgma `j nUmbr Ho$ VhV H$e \$bmo {ddaU V`ma {H$`m J`m h & ~r_m H$nZr H$s {Z`{V H$nZr hmoZo Ho$ H$maU
~r_m {d{Z`m_H$ Ama {dH$mg m{YH$aU (AmB Ama S>r E) (~r_m H$n{Z`mo Ho$ {dVr` {ddaU Ama boIm narjm {VdoXZ H$s V`mar)
{d{Z`_, 2000 Ho$ AZwgma `j Umbr Ho$ VhV H$e \$bmo {ddaU V`ma H$aZm h &
Note : Cash flow statement is prepared under the Direct Method as per Accounting Standard-3 Cash Flow
Statement as the Company is a subsidiary of Insurance Company requiring to prepare cash flow statement
under Direct Method as per the IRDA (Preparation of Financial Statements and Auditors Report of
Insurance Companies) Regulations, 2000.

(dm_r / Partner)
174

hmo_r E\ . _ohVm
A`j
Eb. nr. _ohVm
~r.E_.R>H$a
S>r.EZ.ewbm
{ZXoeH$JU
Homi F. Mehta
Chairman
L.P.
Mehta
B.M. Thakkar
D.N. Shukla
Directors
H$nZr A{Y{Z`_ (1956 H$m 1) AZwgyMr VI - ^mJ IV
STATEMENT PURSUANT TO PART VI OF SCHEDULE IV TO THE COMPANIES ACT, 1956
VwbZ n H$m gmame Ama H$nZr Ho$ gm_m` H$mamo~ma H$s $naoIm
I. nOrH$aU {ddaU / Registration Details :
nOrH$aU g`m
am` H$moS>
4 3 2
Registration No.
VwbZ n
Balance Sheet
{XZmH$ / Date _hrZo / Month
1 1
State Code
0 1
df / Year
II. df Ho$ XmamZ MwH$m`m nyOr (nò hOmam| _|) / Capital Raised During the Year (A in Thousands)
gmdO{ZH$ {ZJ_Z / Public Issue

ey `
N I L
hH$ {ZJ_Z / Rights Issue

ey `
N I L
~moZg {ZJ_Z / Bonus Issue

ey `
N I L
d`pVH$ {d{ZdoeZ / Private Placement

ey `
N I L
III. {Z{Y Ho$ gJh Ama A{^`moOZ H$s pW{V (nò hOmam| _|)
Position of Mobilisation and Deployment of Funds (A in Thousands)
Hw$b Xo`VmE / Total Liabilities

5
Hw b n[agn{V`m / Total Assets

0

MwH Vm nyOr / Paid-up Capital
2
A{V^yV G$U / Unsecured Loans

ey `
N I L
ew Mmby n[agn{V`m / Net Current Assets

4 6
{Z{Y`m| H$m `moJ / Application of Funds

ew WmB n[agn{V`m / Net Fixed Assets
1
Ama{j{V`m Ama A{Yeof / Reserves & Surplus
{V^yV G$U / Secured Loans

0
g{MV hm{Z / Accumulated Losses

ey `
N I L
{Zdoe / Investments
4 8
{d{dY `` / Misc. Expenditure

ey `
N I L
175
IV.
H$nZr H$m {ZnmXZ (nò hOmam| _|) / Performance of Company (Rs. in Thousands)
Hw$b `` / Total Expenditure
Hw$b {~H s / Turnover

6
3 4
+ - H$a Ho$ nyd bm^ / hm{Z / Profit/ Loss Before Tax

5
{V eoà go Am`
2 5
8 3
bm^me / Dividend at %
5
1 6
1 1
+ - H$a Ho$ nMmV bm^ / hm{Z / Profit / Loss After Tax
5 2
A _| / Earning per Share in A
V. VrZ _wI CnmX H$nZr H$s godm`| H$m gm_m` Zm_ ({dVr` eVm] Ho$ AZwgma)
Generic Names of Three Principal Products/Services of Company (as per monetary terms)

CnmX {ddaU
Product Description
bm Jy
Z ht
N A
bm Jy
Z ht
N A
ZmoQ> : ^maVr` `mnma dJuH$aU Ho$ CnmX H$moS> Ho$ {bE, ^maVr` `mnma dJuH$aU H$meZ H$m gX^ b|, Omo dm{U` _mc`, dm{U` JwMa
Ama gm`H$s _hm {ZXoemb`, H$mobH$mVm - 700 001 Ho$ gw`d{WV CnmX {ddaU Ama H$moqS>J Umbr na AmYm{aV h &
Note : For ITC Code of Products please refer to the publication Indian Trade Classification based on harmonised
commodity description and coding system by Ministry of Commerce, Directorate General of Commercial
Intelligence & Statistics, Kolkata -700 001.
176

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OUR

global footprint & recognition

l the best-in-class customer service provider

leveraging technology & multiple

products to meet the needs of all customer

motivated and empowered employees

/ ANNUAL REPORT 2010 - 2011

AZwH _{UH$m / INDEX

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{Z`{V H$nZr H$m dm{fH$ {VdoXZ Ama boIm {ddaU

Oo{ZW boIm - VwbZ n gmame

/ ANNUAL REPORT 2010 - 2011

{ZXoeH$ _S>b d H$m`nmbH$

Board of Directors & Executives

Shri TARUN BAJAJ

Shri T.M. BHASIN

Shri MILIND A KHARAT

{ZXoeH$ d _hm ~YH$

lr nr. gr. Oog

lr nr. Oo. Omog\$

lr_Vr Amem Zm`a

Shri P.C. JAMES

Smt. ASHA NAIR

lr ~r. E_. R>a

_hm ~YH$ d {dVr` gbmhH$ma

{ZXoeH$ d _hm ~YH$

_w` gVH$Vm A{YH$mar

/ ANNUAL REPORT 2010 - 2011

{ZXomH$JU d H$m`nmbH$ / DIRECTORS & EXECUTIVES

DEPUTY GENERAL MANAGERS

DIRECTORS & EXECUTIVES

/ ANNUAL REPORT 2010 - 2011

_S>b H$m`mb`m| / ~H$E`yaog / jor` H$m`mb`m| / Eb.gr.~r. /

/ ANNUAL REPORT 2010 - 2011

/ ANNUAL REPORT 2010 - 2011

{ZXoeH$ _S>b H$m {VdoXZ

VwV H$aVo h &

dJ Ho$ AmYma na {ZnmXZ H$m gmame

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A{nV nwZ~u_m r{_`_

^maV Ho$ ~mha

(n`o H$amoS>m| _|)

/ ANNUAL REPORT 2010 - 2011

REPORT OF THE BOARD OF DIRECTORS

Gross Direct Premium

Reinsurance Premium Accepted

Reinsurance Premium Ceded

REPORT OF THE BOARD OF DIRECTORS

CLASS-WISE PERFORMANCE SUMMARY

/ ANNUAL REPORT 2010 - 2011

Ag_m Omo{I_ Ama{jV _| d{ / (H$Q>mVr)